Abstract: An improved knife clamping system for use in an apparatus for processing wood, such as a flaker, chipper or waferizer, that employs a rotary disc or ring, cutting knives, holding locations mounted on the disc or ring to receive the cutting knives, clamping members to engage and hold the cutting knives in position and fasteners to mount the clamping members to the holding locations. The improvement comprises providing a surface having an undulating profile to engage against the cutting knives. The undulating surface can be formed on the clamping member, at the holding location or at both locations. The surface is shaped to deform to engage the cutting knives with a uniform clamping load upon securing of the fasteners to a pre-selected torque. The foregoing arrangement requires fewer fasteners while still maintaining an adequate clamping force on the cutting knives. This makes parts less expensive and reduces the time to change the knives as there are fewer parts to loosen and tighten.