A tool assembly for removing an article from, or inserting an article onto, a printed circuit board which includes a tool housing having a handle portion and an article receiving portion, a plate slidable within the housing, the plate having a handle portion at a first end adjacent to the handle portion of the housing and two receiving portions at a second end, and two lever arms within the housing, each lever arm having a first end pinned to the housing and a second end of each lever arm inserted into the receiving portion of the plate such that each of the lever arms pivots about the pinned first end upon movement of the plate. The tool further comprises a pair of flexible rods located in respective recessed channels on either side of the article receiving portion, with one end of the flexible rods affixed to a first end of each of the lever arms, each of the flexible rods having a free end for interacting with an article retention device. The tool assembly may also include a tool guide for aligning the tool with a desired portion of a printed circuit board.