Looks worthless..
You need a front-mounted clamp on the saw, that's threaded.

Man that makes me feel a lot better - that's exactly what I thought!

I can't figure out why they even bothered to put this item (clamp) in the
box. It comes loose so easy it just seems like a lawsuit waiting to happen!
The only info about it is a photo on the box showing it -- it's not even
mentioned in the user manual.

Anyway, thanks ! I really appreciate all of the help you & others have
given!