A toolholder (10) has a pocket (20) that accommodates two styles of cutting inserts (25, 25′) having different clearance angles (CA). A support pad (78, 80) protrudes from two side walls (82, 84) of the pocket (20). Each support pad (78, 80) includes a first, planar wall (78a, 80a) and a second, planar wall (78b, 80b) formed at a composite angle defined by a first angle (92) and a second angle (94). The first, planar wall (78a, 80a) enables the pocket (20) to accommodate the second style of cutting insert (25′), and the second, planar wall (78b, 80b) enables the pocket (20) to accommodate the first style of cutting insert (25). In one aspect, the support pads (78, 80) extend the entire length, L, of the support pad (78, 80). In another aspect, an indentation (112, 114) divides one or both of the support pads (178, 180) into two portions, each portion having two planar walls (178a, 178b, 178c, 178d, 180a, 180b, 180c, 180d).