Patent ID: 7306410

Claim:
A rotary cutting tool comprising: a) a shaft having a central longitudinal axis, a first end and an opposing second end, wherein the first end is adapted to be inserted into and held by a toolholder and wherein the second end has two flexible extending portions disposed opposite one another, extending substantially along the longitudinal axis, and separated from one another by a slot therebetween; b) a receptacle structure defined by the two extending portions and a bottom wall disposed between and connected to the two extending portions and wherein the interior surfaces of the extending portions define a conical shape having a taper decreasing in diameter in a direction from the second end to the first end of the shaft; and c) a replaceable cutting insert adapted to be removably attached to the second end of the shaft, wherein the cutting insert comprises a cutting tip with at least one cutting edge configured to cut an object, a body portion and a fixing peg extending therefrom adapted to be removably received within the receptacle structure, wherein at least a portion of the fixing peg has a conical shape with a taper reducing in diameter in a direction from the cutting tip to the fixing peg and matable with the interior surfaces of the extending portions of the receptacle structure through a resilient friction fit.