A cutting apparatus is disclosed which includes a cutter knife which is reciprocally moveable along a path of travel; a track member mounted adjacent to the cutter knife and which mechanically cooperates with the cutter knife so as to define, at least in part, a first non-cutting position, and a second cutting position for the cutter knife; and a magnet is mounted in a location on the track member and which releasably, magnetically restrains the cutter knife when the cutter knife is in the first non-cutting position.