Jack is torn between Emily and the new woman in his life, while Nolan and Louise bring southern charm to East Hampton.
Daniel is completely desperate now Margaux disowns him as the baby's 'unfit' father, but Victoria gets them to reconsider. Nolan makes up wit Louise and hosts this year's grand season start party. Jack is reluctant even to consider Emily's claim that his lover, FBI agent Kate Taylor, is in league with mysterious mob lord Malcolm, even Nolan seems to find nothing against her, until big data mining yields a surprising clue. While they try to trap-test Kate, David his asked his former cellmate for belladonna to poison Victoria's wine for her treason with Conrad, but she finally owes up before sipping, yet death strikes a Grayson.
- We get underway with Victoria and David arguing over what to do about the Malcolm Black problem. Victoria wants him to go to Emily for help. He simply makes her promise she won't interfere.
Margot tells Daniel the baby has changed things for her. She doesn't trust him long-term and being pregnant means the stakes are much higher.
Nolan's vetted Agent Taylor but still can't say for certain whether she's dirty. They need more information, so Emily plants a few bugs in her hotel room. On her way out she runs into Hunter, who tells her about Jack and Taylor.
Despite the case being closed, Taylor tells Jack she might stick around a few days. He invites her to Nolan's huge part that night.
Nolan asks Louise to co-host his party as a way to draw attention to the event and cause some buzz. She agrees.
Daniel finds a letter he wrote his father back during the scandal with his DUI. Daniel wanted to face the music. He then flashes back to a conversation he had with Conrad where he told Daniel that he shouldn't concern himself with the little people in the world.
Emily confronts Jack about her suspicions regarding Taylor.
David meets an old friend who gives him a poison. It will kill a person, but the death will appear to be due to natural causes.
Taylor drops by Victoria's and asks her about Emily's involvement. Victoria makes it clear she knows Taylor's working for Black and tells her to leave them alone.
Nolan and Emily watch video of Taylor using an off-the-books phone. If Nolan can get his hands on it they'll be able to find Black's location.
Margot asks Victoria what Conrad was like in his younger years, then tells her she's pregnant. Victoria tries to assure her that Daniel is not Conrad.
At Nolan's party David shows up briefly and secretly to tell Emily not to come running when she learns of "what happens next." Emily manages to steal Taylor's phone, but Taylor quickly figures it out and approaches Emily. She says Black is forcing her to work for him because he's holding her mother captive. Taylor wants them to work together and they agree to meet later.
Louise tells Nolan she'll soon be returning home. Things with her brother are unstable following the article that hinted at there being more to her father's death.
Daniel and Victoria meet and discuss his future. He tells her that he's tired of doing the typical Grayson thing: Running from your problems.
David takes the poison and places it in (gasp!) Victoria's glass. But his plan to kill her evaporates when she confesses to him her role in his incarceration. She says she was upset after he lied to her about his wife. Victoria begs for a second chance.
We flash to Conrad convincing Daniel that too much is on the line if he turns himself in. He admits that even he was unable to succeed without his family's name and fortune and begs Daniel not to throw away the advantage. It works. A tearful Daniel speaks with Margot. She tells him to "come home. I need you."
Taylor drops by Emily's. Almost immediately it comes out that Taylor was full of it. She's actually Black's daughter, there in part to try to recoup some of the money David stole from him. A cartoonishly long fistfight ensues. At this time Jack sees on Nolan's computer that a fingerprint scan has returned Taylor's real identity as Katherine Black. Emily tosses Taylor through a glass door and the noise is loud enough that Daniel hears from the beach. Emily and Taylor fall from the balcony, stunning Emily long enough for Taylor to get her gun. Daniel runs in to save Emily, but gets shot twice in the chest. Almost simultaneously Jack arrives and kills Taylor. The episode ends with Daniel slipping off into unconsciousness (or death?) in Emily's arms.