An apparatus for holding a tool having a cutting edge in a predetermined abrading orientation with respect to a tool abrading apparatus. The apparatus comprises a base member supportable on the tool abrading apparatus and adapted to support a tool thereon. A positioning member is movably attached to the base member for selective abutting contact with the tool. An adjustment assembly is attached to the base member for selectively advancing and retracting the positioning member relative to the base member to position the tool into the predetermined abrading orientation. A tool retaining member is removably attached to the base to selectively retain the tool on the base member in the predetermined abrading orientation.