Alice finds herself in a quandry when she must choose between Jeremy and a suave Spanish horseman. As the Lexington Stakes derby nears, Clay begins to doubt his training methods and his chances of winning while Ned uncovers a plot to throw the race that could put the Logans' star horse in harm's way.

While Ned plans an extravagant masquerade ball for his bride, Charlotte, Clay and Jeremy set off for Richmond in search for the truth about Charlotte's identity and past. Meanwhile, Charlotte continues her unfaithfulness with Turner while she plots Ned's death.