Document:

EXHIBIT 10.2

                          DEBENTURE PURCHASE AGREEMENT

      Agreement  made as of this 27th day of May,  2005 by and  between  Multi
Solutions,  Inc., a New Jersey corporation  ("MultiSol"),  Multi Soft, Inc., a
New Jersey corporation ("SoftSub"), and Michael Potter (the "Purchaser").

      WHEREAS, MultiSol and SoftSub (together "Multies") have entered into a
Security Purchase Agreement with certain individuals and entities, dated April
25, 2005, whereby Multies have agreed to issue convertible debentures (the
"Debentures"), convertible into 70% of the outstanding shares of Multies common
stock.

      WHEREAS, presently Multies have an insufficient amount of authorized
shares of common stock to permit full conversion of the Debentures, and prior to
the conversion of the Debentures, Multies will authorize a sufficient number of
shares of common stock to effectuate the conversion of the Debentures,

      WHEREAS, Purchaser desires to purchase convertible debentures, which are
convertible into 24,613,131 shares of MultiSol common stock, representing 25.9%
of the issued and outstanding MultiSol shares, and 15,994,390 shares of SoftSub
common stock, representing 25.9% of the issued and outstanding SoftSub shares.

      NOW THEREFORE, in consideration of the promises, the receipt and adequacy
of which is hereby acknowledged, the Purchaser and Multies hereby agree as
follows:

1.    Issuance of Securities:

      1.1   Subject to the terms and conditions hereof

      (a) MultiSol shall issue to Purchaser $35,000 principal amount of its 6%
Convertible Debentures due May 1 2006, which shall be convertible into
24,613,131 shares of MultiSol common stock, representing 25.9% of the issued and
outstanding MultiSol shares, assuming full conversion ("MulitSol Debenture"),
and

      (b) SoftSub shall issue to Purchaser $12,000 principal amount of its 6%
Convertible Debentures due May 1 2006, which shall be convertible into
15,994,390 shares of SoftSub common stock, representing 25.9% of the issued and
outstanding SoftSub shares, assuming full conversion ("SoftSub
Debenture")(together, the "New Debentures").

      1.2 In accordance with the terms of the New Debentures, Purchaser shall
pay to Multies an aggregate of $47,000. Prior to conversion of the New
Debentures, Multies shall authorize a sufficient number of shares of common
stock to effectuate the conversion of the Debentures and New Debentures.

2.    Representations and Warranties of Multies: Multies represent and warrant
      to Purchaser as follows:

      2.1 This Agreement constitutes the legal, valid and binding obligations of
Multies and is enforceable against them in accordance with the terms hereof.

      2.2 Multies are corporations duly organized, validly existing and in good
standing under the laws of the State of New Jersey and have all requisite power,
qualification and authority, corporate or otherwise,

<PAGE>

to own, lease and operate their properties and assets and carry on their
business as and in the places where such properties and assets are now owned,
leased or operated or such business is now being conducted. Multies are in good
standing in each and every jurisdiction where their failure to qualify or to be
in good standing would have a materially adverse effect on their financial
condition, the conduct of their business or the ownership of their assets.

      2.2 Multies have all requisite power and authority to execute, deliver and
perform this Agreement. All necessary corporate proceedings of Multies shall be
duly taken to authorize the execution, delivery and performance of this
Agreement. This Agreement shall be duly authorized, executed and delivered by
Multies, constitutes the legal valid and binding obligation of Multies, and is
enforceable as to Multies in accordance with the terms hereof.

3.    Representations and Warranties of the Purchaser: Purchaser represents and
      warrants to Multies as follows:

      3.1 Purchaser has all the requisite power and authority to execute,
deliver and perform this Agreement. This Agreement constitutes the legal, valid
and binding obligations of Purchaser and is enforceable against him in
accordance with the terms hereof.

      3.2 The Purchaser understands that an investment in the New Debentures is
extremely speculative with a high degree of risk of loss that may result in the
loss of the Purchaser's entire investment, and there are substantial
restrictions on the transferability of the shares underlying the New Debentures.

      3.3 The Purchaser is able to (a) bear the economic risk of this
investment, (b) hold the New Debentures or shares underlying the New Debentures,
and (c) can presently afford a complete loss of this investment.

      3.4 The Purchaser has adequate means of providing for current needs and
personal contingencies and has no need for liquidity in this investment. The
Purchaser further represents that Purchaser's overall commitment to investments
which are not marketable is not disproportionate to Purchaser's net worth and
the investment in the New Debentures will not cause such commitment to become
excessive.

      3.5 The Purchaser has adequate knowledge and expertise in financial and
business matters to be capable of evaluating the merits and risk of an
investment in the New Debentures and of making an informed investment decision.

      3.6 Purchaser is acquiring the New Debentures for Purchaser's own account
and not with a view to their distribution within the meaning of Section 2(11) of
the Securities Act of 1933, as amended (the Securities Act"). Purchaser hereby
acknowledges and agrees that the New Debentures and shares underlying the New
Debentures have not been registered under the Securities Act or any state
securities or "blue sky" laws and may not be sold, transferred or otherwise
disposed of except in compliance with the provisions of the Securities Act and
the rules and regulations promulgated thereunder and such state securities or
"Blue sky" laws.

4. Miscellaneous Provisions:

      4.1 Entire Agreement. This Agreement constitutes the entire agreement of
the parties with respect to the subject matter hereof. The representations,
warranties, covenants and agreements set forth in

<PAGE>

this Agreement constitute all the representations, warranties, covenants and
agreements of the parties hereto and upon which the parties have relied and
except as may be specifically provided herein. No change, modification,
amendment, addition or termination of this Agreement or any part thereof shall
be valid unless in writing and signed by or on behalf of the party to be charged
therewith.

      4.2 Governing Law. This Agreement shall be governed, interpreted and
construed in accordance with the laws of the State of New York applicable to
contracts to be performed entirely within that State. Any dispute in any way
related to the subject matter of this Agreement shall be litigated exclusively
within the State of New York and all parties hereto, consent to the jurisdiction
of the State and/or United States Federal District Courts of New York. Should
any clause, section or part of this Agreement be held or declared to be void or
illegal for any reason, all other clauses, sections or parts of this Agreement
that can be affected without such illegal clause, section or part shall
nevertheless continue in full force and effect.

      4.3 Successors and Assigns. This Agreement shall be binding upon and inure
to the benefit of the parties hereto and their respective successors and assigns
or heirs and personal representatives.

      4.4 Counterparts. This Agreement may be executed by fax transmission and
in one or more counterparts, each of which shall be deemed to be an original,
but all of which shall constitute one and the same Agreement.

      IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
signed on the date and year first above written.

                                          MULTI SOLUTIONS, INC.

/s/Michael Potter                      By: /s/Jerome Goubeaux
-------------------------                  ------------------------------
Michael Potter, Purchaser                      Jerome Goubeaux, President

                                          MULTI SOFT, INC.

                                          By: /s/Jerome Goubeaux
                                              ----------------------------
                                                Jerome Goubeaux, PresidentEX-10.1

EXHIBIT 10.1

STELLENT, INC.

Non-Statutory Stock Option Agreement — Employee

(Under the 2005 Equity Incentive Plan)

Name of Optionee:

No. of Shares Covered:

Date of Grant:

Exercise Price Per Share:

Expiration Date:

Exercise Schedule (Cumulative):

This is a Non-Statutory Stock Option Agreement (the “Agreement”) between Stellent, Inc., a
Minnesota corporation (the “Company”), and the optionee identified above (the
“Optionee”) effective as of the date of grant specified above.

Recitals

WHEREAS, the Company maintains the Stellent, Inc. 2005 Equity Incentive Plan (the
“Plan”); and

WHEREAS, pursuant to the Plan, the Board of Directors of the Company (the “Board”) or
a committee of two or more directors of the Company (the “Committee”) appointed by the
Board administers the Plan and has the authority to determine the awards to be granted under the
Plan (if the Board has not appointed a committee to administer the Plan, then the Board shall
constitute the Committee); and

WHEREAS, the Committee has determined that the Optionee is eligible to receive an award under
the Plan in the form of a non-statutory stock option (the “Option”);

NOW, THEREFORE, the Company hereby grants this Option to the Optionee under the terms and
conditions as follows.

Terms and Conditions*

	 	1.	 	Grant. The Optionee is granted this Option to purchase the number of Shares
specified at the beginning of this Agreement.

	 	2.	 	Exercise Price. The price to the Optionee of each Share subject to this Option shall
be the exercise price specified at the beginning of this Agreement.

	 	3.	 	Non-Statutory Stock Option. This Option is not intended to be an “incentive
stock option” within the meaning of Section 422 of the Internal Revenue Code of 1986, as
amended (the “Code”).

	 	4.	 	Exercise Schedule. This Option shall vest and become exercisable as to the number of
Shares and on the dates specified in the exercise schedule at the beginning of this Agreement.
The exercise schedule shall be cumulative; thus, to this extent this Option has not already
been exercised and has not expired, terminated or been cancelled, the Optionee or the person
otherwise entitled to exercise this Option as provided herein may at any time, and from time
to time, purchase all or any portion of the Shares then purchasable under the exercise
schedule.

This Option may also be exercised in full (notwithstanding the exercise schedule) under the
circumstances described in Section 8 of this Agreement if it has not expired prior thereto.

	 	5.	 	Expiration. This Option shall expire at 5:00 p.m. Central Time on the earliest of:

	 	(a)	 	The expiration date specified at the beginning of this Agreement (which date
shall not be later than ten years after the date of grant);

	 	(b)	 	The expiration of the period after the termination of employment of the
Optionee within which the Option can be exercised (as specified in Section 7 of this
Agreement);

	 	(c)	 	Termination of the Optionee’s employment for Cause. “Cause” shall be
deemed to exist upon (i) an act or acts of dishonesty undertaken by Optionee and
intended to result in substantial gain or personal enrichment of Optionee at the
expense of the Company; (ii) unlawful conduct or gross misconduct that is willful and
deliberate on Optionee’s part and that, in either event, is materially injurious to the
Company; (iii) the conviction of Optionee of a felony; or (iv) material breach by
Optionee of any terms and conditions of any employment or
non-competition/non-solicitation agreement between the Optionee and the Company not
caused by the Company, which breach has not been cured by Optionee within ten days
after written notice thereof to Optionee from the Company; or

	 	(d)	 	The date (if any) fixed for cancellation pursuant to Section 17 of the Plan.

In no event may anyone exercise this Option, in whole or in part, after it has expired,
notwithstanding any other provision of this Agreement.

	 	6.	 	Procedure to Exercise Option.

Notice of Exercise. This Option may be exercised by delivering written notice of exercise
to the Company at the principal executive office of the Company, to the attention of the
Company’s Treasurer, in the form attached to this Agreement. The notice shall state the
number of Shares to be purchased, and shall be signed by the person exercising this Option.
If the person exercising this Option is not the Optionee, he/she also must submit
appropriate proof of his/her right to exercise this Option.

Tender of Payment. Upon giving notice of any exercise hereunder, the Optionee shall provide
for payment of the purchase price of the Shares being purchased through one or a combination
of the following methods:

	 	(a)	 	Cash (including check, bank draft or money order);

	 	(b)	 	To the extent permitted by law, through a broker-assisted cashless exercise in
which the Optionee simultaneously exercises the Option and sells all or a portion of
the Shares thereby acquired pursuant to a brokerage or similar relationship and uses
the proceeds from such sale to pay the purchase price of such Shares;

	 	(c)	 	By delivery to the Company of unencumbered Shares having an aggregate Fair
Market Value on the date of exercise equal to the purchase price of such Shares; or

	 	(d)	 	By authorizing the Company to retain, from the total number of Shares as to
which the Option is exercised, that number of Shares having a Fair Market Value on the
date of exercise equal to the purchase price for the total number of Shares as to which
the Option is exercised.

Notwithstanding the foregoing, the Optionee shall not be permitted to pay any portion of the
purchase price with Shares, or by authorizing the Company to retain Shares upon exercise of
the Option, if the Committee, in its sole discretion, determines that payment in such manner
is undesirable.

Delivery of Certificates. As soon as practicable after the Company receives the notice and
purchase price provided for above, it shall deliver to the person exercising this Option, in
the name of such person, a certificate or certificates representing the Shares being
purchased. The Company shall pay any original issue or transfer taxes with respect to the
issue or transfer of the Shares and all fees and expenses incurred by it in connection
therewith. All Shares so issued shall be fully paid and nonassessable. Notwithstanding
anything to the contrary in this Agreement, no certificate for Shares distributable under
the Plan shall be issued and delivered unless the issuance of such certificate complies with
all applicable legal requirements including, without limitation, compliance with the
provisions of applicable state securities laws, the Securities Act of 1933, as amended (the
“Securities Act”) and the Exchange Act.

	 	7.	 	Employment Requirement. This Option may be exercised only while the Optionee remains
employed with the Company or a parent or subsidiary thereof, and only if the Optionee has been
continuously so employed since the date of this Agreement; provided that:

	 	(a)	 	This Option may be exercised for three months following the day the Optionee’s
employment by the Company ceases if such cessation of employment is for a reason other
than death or disability, but only to the extent that it was exercisable immediately
prior to termination of employment, provided that if termination of the Optionee’s
employment shall have been for Cause, the Option shall expire, and all rights to
purchase Shares hereunder shall terminate, immediately upon such termination.

	 	(b)	 	This Option may be exercised within one year after the Optionee’s employment by
the Company ceases if such cessation of employment is because of death or disability of
the Optionee, but only to the extent it was exercisable immediately prior to the
cessation of employment.

	 	(c)	 	If the Optionee’s employment terminates after a declaration made pursuant to
Section 17 of the Plan in connection with a Fundamental Change, the Option may be
exercised at any time permitted by such declaration.

Notwithstanding the above, the Option may not be exercised after it has expired.

	 	8.	 	Acceleration of Vesting.

In the event of a Fundamental Change the Committee shall:

	 	(a)	 	if the Fundamental Change is a merger or consolidation or statutory share
exchange, make appropriate provision for the protection of this Option by the
substitution for this Option of options or voting common stock of the corporation
surviving any merger or consolidation or, if appropriate, the parent corporation of the
Company or such surviving corporation; or

	 	(b)	 	at least ten days before the occurrence of the Fundamental Change, declare, and
provide written notice to the Optionee of the declaration, that this Option, whether or
not then exercisable, shall be canceled at the time of, or immediately before the
occurrence of, the Fundamental Change (unless it shall have been exercised prior to the
occurrence of the Fundamental Change). In connection with any such declaration, the
Committee may, but shall not be obligated to, cause payment to be made to the Optionee
of cash equal to, for each Share covered by the canceled Option, the amount, if any, by
which the Fair Market Value per share exceeds the exercise price per Share covered by
this Option. At the time of any such declaration, this Option shall immediately become
exercisable in full and the Optionee shall have the right, during the period preceding
the time of cancellation of this Option, to exercise this Option as to all or any part
of the Shares covered by this Option. In the event of a declaration pursuant to this
subsection, to the extent this Option has not been exercised prior to the Fundamental
Change, the unexercised part of this Option shall be canceled at the time of, or
immediately before, the Fundamental Change, as provided in the declaration.
Notwithstanding the foregoing, the holder of this Option shall not be entitled to the
payment provided for in this subsection if this Option shall have expired pursuant to
Section 5 above or been cancelled. For purposes of this subsection only, “Fair
Market Value” per share has the meaning set forth in Section 17 of the Plan.

Discretionary Acceleration. Notwithstanding any other provisions of this Agreement to the
contrary, the Committee may, in its sole discretion, declare at any time that the Option
shall be immediately exercisable.

	 	9.	 	Limitation on Transfer. During the lifetime of the Optionee, only the Optionee or
his/her guardian or legal representative may exercise the Option. The Option may not be
assigned or transferred by the Optionee otherwise than by will or the laws of descent and
distribution or pursuant to a qualified domestic relations order as defined by the Code or
Title I of the Employee Retirement Income Security Act, or the rules thereunder. The Option
held by any such transferee shall continue to be subject to the same terms and conditions that
were applicable to the Option immediately prior to its transfer and may be exercised by such
transferee as and to the extent that the Option has become exercisable and has not terminated
in accordance with the provisions of the Plan and this Agreement.

	 	10.	 	No Shareholder Rights Before Exercise. No person shall have any of the rights of a
shareholder of the Company with respect to any Share subject to the Option until the Share
actually is issued to him/her upon exercise of the Option.

11. Lock-Up Period.

	 	(a)	 	The Optionee agrees that the Optionee will not offer, pledge, sell, contract to
sell, sell any option, sell any contract to purchase, purchase any option, purchase any
contract to sell, grant any option, right, or warrant to purchase, lend, or otherwise
transfer or dispose of, directly or indirectly, any Shares (or any other Company
securities) or enter into any swap, hedging, or other arrangement that transfers to
another, in whole or in part, any of the economic consequences of ownership of any
Shares (or any other Company securities) held by the Optionee (other than those
included in the registration) for a period specified by the representative of the
underwriters of Stock (or any other Company securities) not to exceed 90 days (180 days
in the case of an initial public offering) after the effective date of any Company
registration statement filed under the Securities Act.

	 	(b)	 	The Optionee agrees to execute and deliver such other agreements as may be
reasonably requested by the Company or the underwriter to the extent that such
agreements are consistent with the foregoing or that are necessary to give further
effect to the provisions set forth in Section 11(a). In addition, if requested by the
Company or the representative of the underwriters of Stock (or any other Company
securities), the Optionee will provide, within 10 days of such request, such
information as may be required by the Company or such representative in connection with
the completion of any public offering of the Company’s securities pursuant to a
registration statement filed under the Securities Act.

	 	(c)	 	The obligations described in this Section 11 will not apply to a registration
relating solely to employee benefit plans on Form S-1 or Form S-8 or similar forms that
may be promulgated in the future, or a registration relating solely to a Commission
Rule 145 transaction on Form S-4 or similar forms that may be promulgated in the
future. The Company may impose stop-transfer instructions with respect to the shares
of Stock (or any other Company securities) subject to the foregoing restriction until
the end of such 90-day or 180-day period, as applicable.

	 	12.	 	Discretionary Adjustment. In the event of any reorganization, merger, consolidation,
recapitalization, liquidation, reclassification, stock dividend, stock split, combination of
 shares, rights offering, or extraordinary dividend or divestiture (including a spin-off), or
any other change in the corporate structure or Shares of the Company, the Committee (or if the
Company does not survive any such transaction, a comparable committee of the Board of
Directors of the surviving corporation) may, without the consent of the Optionee, make such
adjustment as it determines in its discretion to be appropriate as to the number and kind of
securities subject to and reserved under the Plan and, in order to prevent dilution or
enlargement of rights of the Optionee, the number and kind of securities issuable upon
exercise of the Option and the exercise price hereof.

	 	13.	 	Tax Withholding. Delivery of Shares upon exercise of the Option shall be subject to
any required withholding taxes. As a condition precedent to receiving Shares upon exercise of
the Option, the Optionee may be required to pay to the Company, in accordance with the
provisions of Section 14 of the Plan, an amount equal to the amount of any required
withholdings. In lieu of all or any part of such a cash payment, a person exercising the
Option may cover all or any part of the required withholdings, and any additional withholdings
up to the amount needed to cover the individual’s full FICA and federal, state and local
income tax liability with respect to income arising from the exercise of the Option, through
the delivery to the Company of unencumbered Shares, through a reduction in the number of
Shares delivered to the person exercising the Option or through a subsequent return to the
Company of Shares delivered to the person exercising the Option (in each case, such Shares
having an aggregate Fair Market Value on the date of exercise equal to the amount of the
withholding taxes being paid through such delivery, reduction or subsequent return of Shares).
Notwithstanding the foregoing, no person shall be permitted to pay any such withholdings with
Shares, or through a reduction in the number of Shares to be delivered upon exercise of the
Option, if the Committee, in its sole discretion, determines that payment in such manner is
undesirable.

	 	14.	 	Interpretation of This Agreement. All decisions and interpretations made by the
Committee with regard to any question arising hereunder or under the Plan shall be binding and
conclusive upon the Company and the Optionee. If there is any inconsistency between the
provisions of this Agreement and the Plan, the provisions of the Plan shall govern.

	 	15.	 	Discontinuance of Employment. This Agreement shall not give the Optionee a right to
continued employment with the Company or any parent or subsidiary of the Company, and the
Company or any such parent or subsidiary employing the Optionee may terminate his/her
employment at any time and otherwise deal with the Optionee without regard to the effect it
may have upon him/her under this Agreement.

	 	16.	 	Option Subject to Plan, Articles of Incorporation and By-Laws. The Optionee
acknowledges that the Option and the exercise thereof is subject to the Plan, the Articles of
Incorporation, as amended from time to time, and the By-Laws, as amended from time to time, of
the Company, and any applicable federal or state laws, rules or regulations.

	 	17.	 	Obligation to Reserve Sufficient Shares. The Company shall at all times during the
term of the Option reserve and keep available a sufficient number of Shares to satisfy this
Agreement.

	 	18.	 	Binding Effect. This Agreement shall be binding in all respects on the heirs,
representatives, successors and assigns of the Optionee.

	 	19.	 	Choice of Law. This Agreement is entered into under the laws of the State of
Minnesota and shall be construed and interpreted thereunder (without regard to its conflict of
law principles).

IN WITNESS WHEREOF, the Optionee and the Company have executed this Agreement as of the      
day of      , 20     .

OPTIONEE

STELLENT, INC.

By

Its

*Unless the context indicates otherwise, terms
that are not defined in this Agreement shall have the meaning set forth in the
Plan as it currently exists or as it is amended in the future.

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