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                                                                    Exhibit 10.5

                         CONTRACT FOR PROVIDING SERVICES

         Made and Executed in Tel Aviv this ___ day of ____________ 1998

BETWEEN:       Camtek Ltd. Pr/51-123543-4
               Old Industrial Zone, Migdal Haemek 10556
               (hereinafter: "Camtek")

                                                               OF THE FIRST PART

AND:           P.C.B. Ltd. Pub.C/52-003779-7
               Old Industrial Zone, Migdal Haemek 10556
               (hereinafter: "P.C.B.")

                                                              OF THE SECOND PART

WHEREAS,       Camtek is interested in receiving certain services from P.C.B. as
               set out in the Appendix to this Contract (hereinafter: the
               "Services"); and

WHEREAS,       P.C.B. has agreed to provide such Services to Camtek; and

WHEREAS,       The parties wish to formalize the conditions for the provision of
               the Services;

Therefore, it is declared, agreed and stipulated between the parties as follows:

1.       PREAMBLE AND INTERPRETATION

         1.1      The preamble to this Contract and the appendix attached hereto
                  constitute an integral part hereof.

         1.2      This Contract embodies and encompasses all that which has been
                  agreed between the parties in connection with the supply of
                  the Services by P.C.B. and/or in relation thereto, and no
                  negotiations, declaration, representation, agreement,
                  assurance or undertaking if at all, in writing and/or
                  verbally, expressly or impliedly, prior to the signature of
                  this Contract shall be of any effect.

                  It is hereby expressly agreed and stated that the agreement
                  for the provision of services between the parties of June 4,
                  1992 it is hereby rendered null and void and each party
                  mutually declares and acknowledges that it has received
                  everything that was respectively due to each party under such
                  agreement and that neither party shall have any claim, demand
                  or plea against the other in connection with that agreement.


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         1.3      No modification to this Contract or to any of the provisions
                  hereof shall be of any effect unless made in writing and
                  signed by the parties.

         1.4      The consent of either of the parties in any particular case to
                  any deviation from the conditions and provisions of this
                  Agreement shall not constitute precedent, and no inference
                  shall be made therefrom in other cases.

         1.5      No conduct of either of the parties shall be deemed to be a
                  waiver of any of its rights under this Contract or according
                  to any law, and/or as a waiver of, or consent on its part to
                  any breach or the non-performance of any condition, unless
                  such waiver or consent has been expressly made in writing.

         1.6      The headings in this Contract are for convenience only and
                  shall be of no meaning for purposes of interpretation.

2.       SUPPLY OF THE SERVICES

         2.1      P.C.B. will supply Camtek and Camtek will receive from P.C.B.
                  the Services all pursuant and subject to the provisions and
                  conditions set out in this Contract.

         2.2      Camtec reserves the right to reduce or terminate the provision
                  of a particular service, upon written demand to be given to
                  P.C.B. Any service so rendered, may be increased or resumed,
                  as the case may be, only by the mutual consent of the parties.

         2.3      P.C.B. declares that it has the skilled manpower necessary to
                  provide the Services and the approvals and permits required by
                  law to provide such Services, and that there is no impediment
                  or restriction under any law, contract or otherwise, to its
                  entering into and performing this Contract.

         2.4      P.C.B. warrants that such Services will only be provided by
                  P.C.B.'s professional, skilled and experienced employees and
                  that the Services to be provided will be provided at a high
                  professional standard.

4.       STATUS OF P.C.B.

         4.1      It is hereby expressly declared and agreed that P.C.B. will
                  provide the services as an independent contractor and that no
                  employer/employee or principal-agent relationship will exist
                  between P.C.B. and/or its employees and Camtec, and nothing
                  contained in the provisions of this Contract shall serve to
                  create any such employer-employee or agency relationship.

         4.2      It is hereby expressly stated and agreed that all persons
                  through whom P.C.B. will grant Services to Camtec will be
                  P.C.B.'s employees only, and that any liability of any kind by
                  law or agreement in connection with their work, will be
                  imposed on P.C.B. only. P.C.B. will be solely responsible
                  towards the above employees


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                  with respect to all the competent authorities in connection
                  with all and any statutory or contractual provisions.

         4.3      P.C.B. will be responsible for paying the remuneration and
                  expenses, social security and working conditions of the
                  employees who will provide Services to Camtec, and Camtec
                  shall have no liability whatsoever with respect to them.

         4.4      Without derogating from the foregoing, P.C.B. undertakes to
                  pay to and in respect of its employees who will provide
                  Services to Camtec everything required from an employer under
                  law, including but without derogating from the generality of
                  the foregoing, wages, overtime pay and/or days of rest,
                  holiday pay, sick leave payment, payment for holidays,
                  severance pay, travelling expenses, and special holiday
                  allowance, and also make all deductions and payments required
                  to be made by law by an employer on due date.

         4.5      P.C.B. undertakes to comply with the provisions of the
                  National Insurance Law, 5714-1953 and the regulations
                  promulgated thereunder, and to furnish Camtek with
                  certificates to that effect from the National Insurance
                  Institute.

         4.6      Without derogating from the foregoing, P.C.B. undertakes to
                  indemnify and compensate Camtek for any responsibility,
                  liability, damage or expense, including in respect of lawyers'
                  and other legal fees for which it becomes liable, and which
                  Camtek will bear or pay in connection with P.C.B.'s employees
                  through whom the Services will be provided by P.C.B. to Camtek
                  including in connection with any ruling to the effect that any
                  such employee is an employee of Camtek, and including but
                  without derogating from the generality of the foregoing, in
                  connection with the rights of an employee as such term is
                  defined by any law and/or as regards the vested rights of such
                  employee according to any law.

5.       PAYMENTS IN RESPECT OF MANAGEMENT SERVICES

         5.1      The consideration in respect of each of the Services will be
                  calculated as stated in the Appendix to this Contract
                  (hereinafter: the "Consideration") plus V.A.T., as applicable.

         5.2      It is hereby expressly stated and agreed that the
                  Consideration and the provisions contained in this Clause
                  above, include all payments to which P.C.B. is entitled in
                  respect of supplying the management services under this
                  Contract, and P.C.B. will not be entitled to any further or
                  additional payment whatsoever.

         5.3      Camtec will be entitled to deduct from the Consideration
                  withholding tax at source as required by law, unless P.C.B.
                  furnishes it with a certificate from the tax authorities in
                  Israel to act otherwise.


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6.       MANNER OF PAYMENT

         6.1      P.C.B. will submit an invoice to Camtek at the beginning of
                  each month with respect to the Services provided to Camtek in
                  the previous month.

         6.2      Camtek will pay the Consideration to P.C.B. within 15 days of
                  the end of the month in which the invoice was submitted to it.

         6.3      Any payment not paid on its due date will bear penal interest
                  at the maximum rate which Bank Leumi charges as of the payment
                  date, in respect of overdrafted accounts (including penal
                  interest for drawings exceeding the authorized ceiling), in
                  respect of the period from the payment date through the date
                  of actual payment.

7.       THE TERM

         This Contract is for a term of four (4) years commencing January 1,
1998 (the "Initial Term"). The term of this Contract will be extended at the end
of the Initial Term each time for one year, unless either party notifies the
other in writing, up to three months prior to the end of the Initial Term or of
any extended term, of its wish to terminate the Contract.

8.       MISCELLANEOUS

         8.1      P.C.B. is not entitled to transfer or convey or assign its
                  rights and/or obligations under this Contract in whole or in
                  part or to perform all or any of its obligations through
                  others without receiving Camtec's prior written consent
                  thereto.

         8.2      Notices in connection with this Contract will be in writing
                  and be sent by registered mail or by fax or served personally
                  according to the address of the parties detailed in the
                  preamble to this Contract and any such notice will be regarded
                  as having been served upon the addressee on the following
                  dates: in the event of personal service - upon the actual
                  service thereof; in the event of transmission and despatch by
                  fax - on the business day following the despatch; in the event
                  of despatch by registered mail - three business days after the
                  date of posting by registered mail at a post office in Israel.
                  Each party will be entitled to change the address by giving
                  written notice of that effect to the other.

              IN WITNESS WHEREOF THE PARTIES HAVE SET THEIR HANDS:

          (signed)                                     (signed)
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        P.C.B. Ltd.                                   Camtek Ltd.


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                                   APPENDIX A

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                    DETAILS OF SERVICES                                        MANNER OF CALCULATION
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<S>   <C>                                                      <C>
1.    ACCOUNTING:                                              Camtec will bear a proportion of the direct cost
      a) Bookkeeping                                           (salaries only) of the manpower employed by P.C.B.
      b) Handling reports (both internal for management        exclusively in accounting according to the rate of
         purposes as well as to the authorities                P.C.B.'s and Camtek's turnover jointly in the preceding
                                                               quarter. If Camtec also employs its own employees in
                                                               accounting, then so long as Camtek receives accounting
                                                               services from P.C.B. the cost thereof will, for the
                                                               purposes of the above calculation, be added to the cost
                                                               of the manpower employed in accounting at P.C.B., and
                                                               such cost will be deducted from the payment due to
                                                               P.C.B.
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2.    HOUSEKEEPING AND BUILDING MAINTENANCE                    Camtek will bear a proportion of the cost borne by
      a) Housekeeping                                          P.C.B. in respect of housekeeping and building
      b) Building maintenance                                  maintenance, according to the ratio of that proportion
                                                               which constitutes the constructed are of the buildings
                                                               of Camtek to which this service is provided, to the
                                                               constructed area of P.C.B.'s and Camtek's buildings
                                                               together.
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3.    MANPOWER SERVICES                                        Camtek will bear a proportion of the direct cost
      a) Salary preparation                                    (salaries only) of the manpower employed by P.C.B.
      b) Employee recruitment                                  exclusively in providing manpower services, according
      c) Welfare services                                      to the ratio which the number of Camtek's employees
                                                               bears to the aggregate number of P.C.B.'s and Camtek's
                                                               employees jointly in the preceding quarter. If Camtec
                                                               employs its own employees in manpower management, the
                                                               cost thereof will, for the purpose of the above
                                                               calculation, be added to the cost of the manpower
                                                               employed in that connection in P.C.B. so long as Camtec
                                                               also receives such services from P.C.B., and such cost
                                                               will be deducted from the payment due to P.C.B.
                                                               according to the above calculation.
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4.    VEHICLE MAINTENANCE AND TRANSPORTATION                   (a) Camtek will bear a proportion of the cost borne by
       a) Vehicle Maintenance                                  P.C.B. in respect of vehicle maintenance, and this will
       b) Transportation                                       fall upon and be paid by P.C.B. and Camtek according to
                                                               the ratio  which the number of Camtek's vehicles  bears
                                                               to the number of P.C.B.'s vehicles.
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                                                               (b) The cost of the  transportation  will  fall upon and
                                                               be paid by P.C.B.  and  Camtek  according  to the actual
                                                               transportation carried out for each of them.
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5.    PASSENGER TRANSPORTATION                                 Camtek will bear a proportion of P.C.B.'s expenses in
      a) Transportation of employees                           respect of transporting its and Camtek's employees,
                                                               according to the proportion by which Camtek's employees
                                                               receive transportation out of the aggregate of P.C.B.'s
                                                               and Camtek's employees who receive transportation.
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6.    MEALS                                                    Camtek will bear a proportion of P.C.B.'s expenses in
                                                               respect of meals to its and Camtek's employees,
                                                               according to the proportion which the number of meals
                                                               actually received by Camtek's employees bears to the
                                                               aggregate meals actually received by P.C.B.'s and
                                                               Camtek employees jointly.
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</TABLE>

It is hereby expressly stated and agreed that P.C.B.'s books of account will, in
connection with the charging of the expenses and costs for the above purposes,
constitute prima facie evidence of the truthfulness of the contents thereof.


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