Cutting tool assembly having a low profile tool holder

A cutting tool assembly comprising:

• a low profile tool holder for securing a cutting insert including a cylindrical body having a flat front face and rear face;
• the cylindrical body including a clamping jaw having a clamping block, upper jaw and lower jaw;
• the upper jaw and lower jaw projecting radially beyond the cylindrical body;
• the clamping block flexibly joined integral with the cylindrical body of the low profile tool holder by a slot formed from the back of the clamping jaw extending radially to approximate the center of the low profile tool holder and a slot formed above a clamping hole extending to approximate the center of the low profile tool holder;
• wherein the rear face includes serrations extending over and above the clamping block;
• and wherein the clamping block has a clamping hole for receiving a fastener engaging the low profile tool holder, wherein the clamping block and upper jaw flexibly close against the cutting insert positioned between the upper jaw and lower jaw when the fastener is tightened thereby securing the cutting insert in position.