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                                                                   EXHIBIT 10.48

                              EMPLOYMENT AGREEMENT

                  THIS EMPLOYMENT AGREEMENT (the "Agreement") is entered into on
April 1, 2003 (the "Effective Date) by and between Stellent, Inc., a Minnesota
corporation (the "Company"), and Vern Hanzlik, a resident of Minnesota
("Employee").

                                    RECITALS

                  A. Employee is the Company's former President and Chief
Executive Officer and a former director of the Company, having resigned from
those positions pursuant to a separate Transition Agreement entered into on
March 31, 2003 (the "Transition Agreement").

                  B. Company desires to retain the services of Employee with
respect to certain transition matters and business development activities of the
Company, and Employee desires to accept such continued employment, subject to
the terms and conditions set forth in this Agreement.

                                    AGREEMENT

                  NOW, THEREFORE, in consideration of the foregoing premises and
the respective agreements of the Company and Employee set forth below, the
Company and Employee, intending to be legally bound, agree as follows:

                  1. POSITION AND DUTIES. Employee shall be employed during the
Term as a Business Development Specialist reporting to the Company's President
and shall, among other things, provide advice and assistance to the Company with
respect to (1) the Company's hosted solutions group, (2) companies and
technologies relating to new business development or mergers and acquisitions;
and (3) retention of existing large enterprise customers and generation of new
enterprise customers. Employee shall render such services to the Company when
and as requested by the Company and at such time or times and at such location
or locations (which may include off-site locations) as may be mutually
convenient to the Company and Employee, provided that Employee shall be
available to provide such services only during regular business hours and
subject to normal periods of vacation, sick leave or other occasional personal
time off. During the first year of this Agreement, Employee shall be available
to provide such services for a minimum of 130 hours per month. Employee's
required availability during the second year of this Agreement shall be agreed
upon by the parties, and, if no agreement is reached Employee shall be available
to provide services hereunder during the second year for a minimum of 40 hours
per month. Employee shall devote his best efforts to the performance of services
to the Company hereunder, but he may engage in other employment or business
activities during the Term so long as such employment and business activities do
not unreasonably interfere with Employee's duties and obligations hereunder.

                  2. TERM. The term of Employee's employment under this
Agreement shall commence on the Effective Date and shall continue until March
31, 2005 (the "Term"),


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unless earlier terminated or extended in accordance with this Section 2. This
Agreement and Employee's employment hereunder may be terminated as follows: (i)
by the Company without notice to Employee upon Employee's failure to execute the
Transition Agreement or upon Employee rescinding or attempting to rescind the
Transition Agreement or (ii) by either party pursuant to Section 14 hereof. In
the event this Agreement is terminated prior to expiration of the Term pursuant
to this Section 2, the Company shall be obligated to pay Employee only for
services rendered by Employee prior to such termination date at the rate set
forth in Section 3 hereof.

                  3. COMPENSATION. The Company shall pay Employee a salary at
the rate of $10,000 per month, less normal payroll deductions, from the
Effective Date through March 31, 2004. Employee's monthly salary for the period
from April 1, 2004 through March 31, 2005 shall be agreed upon by the parties,
and, if no agreement is reached Employee's salary during the second year shall
be $5,000 per month, provided, however, that as a condition to continuing his
employment after March 31, 2004, Employee must execute and not rescind a release
of claims in substantially the form attached as Exhibit C to the Transition
Agreement (the "Release"). The Release must be executed no earlier than March
31, 2004.

                  4. EMPLOYEE BENEFITS. While Employee is employed by the
Company hereunder, Employee shall be entitled to participate in all employee
benefit plans and programs of the Company to the extent that Employee meets the
eligibility requirements for each individual plan or program. The Company
provides no assurance as to the adoption or continuance of any particular
employee benefit plan or program, and Employee's participation in any such plan
or program shall be subject to the provisions, rules and regulations applicable
thereto. Notwithstanding the foregoing, Employee shall not be eligible for, and
Employee waives all right to, vacation benefits otherwise available to employees
of the Company.

                  5. EXPENSES. While Employee is employed by the Company
hereunder, the Company shall reimburse Employee for all reasonable and necessary
out-of-pocket business, travel and entertainment expenses incurred by Employee
in the performance of the duties and responsibilities hereunder, subject to the
Company's normal policies and procedures for expense verification and
documentation.

                  6. AFFILIATED ENTITIES. As used in this Agreement, "Affiliate"
shall include the Company and any corporation, partnership, or other entity,
which controls the Company, is controlled by the Company, or is under common
control with the Company (in each case "control" meaning the direct or indirect
ownership of 50% or more of all outstanding equity interests).

                  7. CONFIDENTIAL INFORMATION. Except as permitted by the
Company, Employee shall not at any time divulge, furnish or make accessible to
anyone or use in any way other than in the ordinary course of the business of
the Company or any Affiliate, any confidential, proprietary or secret knowledge
or information of the Company or any Affiliate that Employee has acquired or
shall acquire about the Company or any Affiliate, whether


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developed by himself or by others, concerning (i) any trade secrets, (ii) any
confidential, proprietary or secret designs, programs, processes, formulae,
plans, devices or material (whether or not patented or patentable) directly or
indirectly useful in any aspect of the business of the Company or of any
Affiliate, (iii) any customer or supplier lists, (iv) any confidential,
proprietary or secret development or research work, (v) any strategic or other
business, marketing or sales plans, (vi) any financial or personnel data or
plans, or (viii) any other confidential or proprietary information or secret
aspects of the business of the Company or of any Affiliate. Employee
acknowledges that the above-described knowledge and information constitutes a
unique and valuable asset of the Company and represents a substantial investment
of time and expense by the Company, and that any disclosure or other use of such
knowledge or information other than for the sole benefit of the Company or its
Affiliates would be wrongful and would cause irreparable harm to the Company.
The foregoing obligations of confidentiality shall not apply to any knowledge or
information that (i) is now or subsequently becomes generally publicly known,
other than as a direct or indirect result of the breach of this Agreement, (ii)
is independently made available to Employee in good faith by a third party who,
to Employee's knowledge, has not violated a confidential relationship with the
Company or its Affiliates, or (iii) is required to be disclosed by law or legal
process or to enforce Employee's rights against the Company, provided that
Employee provides advance notice to the Company of his intent to disclose
Confidential Information and allows the Company sufficient time to initiate
action to protect the Confidential Information. Employee understands and agrees
that his obligations under this Agreement to maintain the confidentiality of the
Company's confidential information are in addition to any obligations of
Employee under applicable statutory or common law.

                  8. VENTURES. If, during Employee's employment with the
Company, Employee is engaged in or provides input into the planning or
implementing of any project, program or venture involving the Company, all
rights in such project, program or venture shall belong to the Company. Except
as approved in writing by the Board of Directors of the Company, Employee shall
not be entitled to any interest in any such project, program or venture or to
any commission, finder's fee or other compensation in connection therewith.
Employee shall have no interest, direct or indirect, in any customer or supplier
that conducts business with the Company.

                  9. CONFLICTS OF INTEREST. During Employee's employment with
the Company hereunder, Employee shall not, directly or indirectly, transact
business with the Company personally, or as agent, owner, partner, or
shareholder of any other entity unless any such transaction has been knowingly
approved by all disinterested members of the Company's Board of Directors.


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                  10. NONCOMPETITION AND NONSOLICITATION COVENANTS.

                           (a) AGREEMENT NOT TO COMPETE. During Employee's
employment with the Company or any Affiliate and for a period of twelve (12)
consecutive months from and after the termination of Employee's employment,
whether such termination is with or without cause, or whether such termination
is at the instance of Employee or the Company, Employee shall not, directly or
indirectly (including without limitation as a proprietor, principal, agent,
partner, officer, director, stockholder, employee, member of any association,
consultant or otherwise), engage in any business, in the United States or in any
other location in which the Company is then doing business or actively planning
to do business:

                           (i)      that designs, develops, markets,
                                    distributes, or sells web content management
                                    services or products, or

                           (II)     that designs, develops, markets,
                                    distributes, or sells services or products
                                    similar to and competitive with any service
                                    or product then being developed, marketed,
                                    or distributed by the Company.

Ownership by Employee, as a passive investment, of less than 3% of the
outstanding shares of capital stock of any corporation listed on a national
securities exchange or publicly traded in the over-the-counter market shall not
constitute a breach of this Section 10 (a).

                           (b) AGREEMENT NOT TO HIRE. During Employee's
employment with the Company or any Affiliates and for a period of twelve (12)
consecutive months from and after the termination of Employee's employment,
whether such termination is with or without cause, or whether such termination
is at the instance of Employee or the Company, Employee shall not, directly or
indirectly (including without limitation as a proprietor, principal, agent,
partner, officer, director, stockholder, employee, member of any association,
consultant or otherwise), hire, engage or solicit any person who is then an
employee or contractor of the Company or who was an employee of the Company at
any time during the six (6) month period immediately preceding Employee's
termination of employment, in any manner or capacity.

                           (c) AGREEMENT NOT TO SOLICIT. During Employee's
employment with the Company or any Affiliates and for a period of twelve (12)
consecutive months from and after the termination of Employee's employment,
whether such termination is with or without cause, or whether such termination
is at the instance of Employee or the Company, Employee shall not, directly or
indirectly (including without limitation as a proprietor, principal, agent,
partner, officer, director, stockholder, employee, member of any association,
consultant or otherwise), solicit, request, advise or induce any current or
potential customer, supplier or other business contact of the Company at any
time during the twelve (12) month period immediately preceding Employee's
termination of employment, to cancel, curtail or otherwise adversely change its
relationship with the Company, in any manner or capacity.


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                           (d) ACKNOWLEDGMENT. Employee hereby acknowledges that
the provisions of this Section 10 are reasonable and necessary to protect the
legitimate interests of the Company and that any violation of this Section 10 by
Employee shall cause substantial and irreparable harm to the Company to such an
extent that monetary damages alone would be an inadequate remedy therefor.

                           (e) BLUE PENCIL DOCTRINE. If the duration of, the
scope of or any business activity covered by any provision of this Section 10 is
in excess of what is determined to be valid and enforceable under applicable
law, such provision shall be construed to cover only that duration, scope or
activity that is determined to be valid and enforceable. Employee hereby
acknowledges that this Section 10 shall be given the construction which renders
its provisions valid and enforceable to the maximum extent, not exceeding its
express terms, possible under applicable law.

                  11. PATENTS, COPYRIGHTS AND RELATED MATTERS.

                           (a) DISCLOSURE AND ASSIGNMENT. Employee shall
immediately disclose to the Company any and all improvements and inventions that
Employee may conceive and/or reduce to practice individually or jointly or
commonly with others while he is employed with the Company or any of its
Affiliates with respect to (i) any methods, processes or apparatus concerned
with the development, use or production of any type of products, goods or
services sold or used by the Company or its Affiliates, and (ii) any type of
products, goods or services sold or used by the Company or its Affiliates. Any
such improvements and inventions shall be the sole and exclusive property of the
Company and Employee shall immediately assign, transfer and set over to the
Company his entire right, title and interest in and to any and all of such
improvement and inventions as are specified in this Section 11(a), and in and to
any and all applications for letters patent that may be filed on such
inventions, and in and to any and all letters patent that may issue, or be
issued, upon such applications. In connection therewith and for no additional
compensation therefor, but at no expense to Employee, Employee shall sign any
and all instruments deemed necessary by the Company for:

                           (i)      the filing and prosecution of any
                                    applications for letters patent of the
                                    United States or of any foreign country that
                                    the Company may desire to file upon such
                                    inventions as are specified in this Section
                                    12(a);

                           (ii)     the filing and prosecution of any
                                    divisional, continuation,
                                    continuation-in-part or reissue applications
                                    that the Company may desire to file upon
                                    such applications for letters patent; and

                           (iii)    the reviving, re-examining or renewing of
                                    any of such applications for letters patent.


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This Section 11(a) shall not apply to any invention for which no equipment,
supplies, facilities, confidential, proprietary or secret knowledge or
information, or other trade secret information of the Company was used and that
was developed entirely on Employee's own time, and (i) that does not relate (A)
directly to the business of the Company, or (B) to the Company's actual or
demonstrably anticipated research or development, or (ii) that does not result
from any work performed by Employee for the Company.

                           (b) COPYRIGHTABLE MATERIAL. All right, title and
interest in all copyrightable material that Employee shall conceive or originate
individually or jointly or commonly with others, and that arise in connection
with Employee's services hereunder or knowledge of confidential and proprietary
information of the Company, shall be the property of the Company and are hereby
assigned by Employee to the Company and its Affiliates along with ownership of
any and all copyrights in the copyrightable material. Where applicable, works of
authorship created by Employee relating to the Company or any Affiliate and
arising out of Employee's knowledge of confidential and proprietary information
of the Company shall be considered "works made for hire," as defined in the U.S.
Copyright Act, as amended.

                  12. RETURN OF RECORDS AND PROPERTY. Upon termination of
Employee's employment or at any time upon the Company's request, Employee shall
promptly deliver to the Company any and all Company and Affiliate records and
any and all Company and Affiliate property in his possession or under his
control, including without limitation manuals, books, blank forms, documents,
letters, memoranda, notes, notebooks, reports, printouts, computer disks,
computer tapes, source codes, data, tables or calculations and all copies
thereof, documents that in whole or in part contain any trade secrets or
confidential, proprietary or other secret information of the Company or any
Affiliate and all copies thereof, and keys, access cards, access codes,
passwords, credit cards, personal computers, telephones and other electronic
equipment belonging to the Company or its Affiliates.

                  13. REMEDIES. Employee acknowledges that it would be difficult
to fully compensate the Company for monetary damages resulting from any breach
by him of the provisions hereof. Accordingly, in the event of any actual or
threatened breach of any such provisions, the Company shall, in addition to any
other remedies it may have, be entitled to injunctive and other equitable relief
to enforce such provisions, and such relief may be granted without the necessity
of proving actual monetary damages.

                  14. TERMINATION OF EMPLOYMENT. If either party to this
Agreement defaults in the performance of any term or condition hereof or does or
permits anything to be done contrary to any term or condition hereof and such
default continues for fifteen (15) days (or in case of default by Employee under
Section 7 or Section 10, five (5) days) after such party's receipt of written
notice of such default specifying the nature of the default, then the
non-defaulting party may terminate the employment relationship and, consistent
with the terms of Section 2 of this Agreement, pursue any other remedy available
in law or in equity. The parties agree that the terms and conditions set forth
in Sections 7 through 15 of this Agreement shall survive termination of this
Agreement or termination of Employee's employment for any reason.


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                  15. MISCELLANEOUS.

                           (a) GOVERNING LAW. All matters relating to the
interpretation, construction, application, validity and enforcement of this
Agreement shall be governed by the laws of the State of Minnesota without giving
effect to any choice or conflict of law provision or rule, whether of the State
of Minnesota or any other jurisdiction, that would cause the application of laws
of any jurisdiction other than the State of Minnesota.

                           (b) JURISDICTION AND VENUE. Employee and the Company
consent to jurisdiction of the courts of the State of Minnesota and/or the
federal district courts, District of Minnesota, for the purpose of resolving all
issues of law, equity, or fact arising out of or in connection with this
Agreement. Any action involving claims of a breach of this Agreement shall be
brought in such courts. Each party consents to personal jurisdiction over such
party in the state and/or federal courts of Minnesota and hereby waives any
defense of lack of personal jurisdiction. Venue, for the purpose of all such
suits, shall be in Hennepin County, State of Minnesota.

                           (c) ENTIRE AGREEMENT. This Agreement, the Transition
Agreement, and any stock option agreements entered into by the Company and
Employee contain the entire agreement of the parties relating to Employee's
employment with the Company and supersede all prior agreements and
understandings with respect to such subject matter, including without limitation
the Employment Agreement between Employee and the Company effective as of
November 1, 2001, and the parties hereto have made no agreements,
representations or warranties relating to the subject matter of this Agreement
that are not set forth herein.

                           (d) NO VIOLATION OF OTHER AGREEMENTS. Employee hereby
represents and agrees that neither (i) Employee's entering into this Agreement
nor (ii) Employee's carrying out the provisions of this Agreement, will violate
any other agreement (oral, written or other) to which Employee is a party or by
which Employee is bound.

                           (e) AMENDMENTS. No amendment or modification of this
Agreement shall be deemed effective unless made in writing and signed by the
parties hereto.

                           (f) NO WAIVER. No term or condition of this Agreement
shall be deemed to have been waived, except by a statement in writing signed by
the party against whom enforcement of the waiver is sought. Any written waiver
shall not be deemed a continuing waiver unless specifically stated, shall
operate only as to the specific term or condition waived and shall not
constitute a waiver of such term or condition for the future or as to any act
other than that specifically waived.

                           (g) ASSIGNMENT. This Agreement shall not be
assignable, in whole or in part, by either party without the prior written
consent of the other party.


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                           (h) COUNTERPARTS. This Agreement may be executed in
any number of counterparts, and such counterparts executed and delivered, each
as an original, shall constitute but one and the same instrument.

                           (i) SEVERABILITY. Subject to Section 10(e) hereof, to
the extent that any portion of any provision of this Agreement shall be invalid
or unenforceable, it shall be considered deleted herefrom and the remainder of
such provision and of this Agreement shall be unaffected and shall continue in
full force and effect.

                           (j) CAPTIONS AND HEADINGS. The captions and paragraph
headings used in this Agreement are for convenience of reference only and shall
not affect the construction or interpretation of this Agreement or any of the
provisions hereof.

                  IN WITNESS WHEREOF, Employee and the Company have executed
this Agreement as of the date set forth in the first paragraph.


                                               Stellent, Inc.


                                               By
                                                  ------------------------------
                                                  Robert Olson
                                                  Its
                                                      --------------------------



                                               ---------------------------------
                                               Vern Hanzlik


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