Daniel Santos has a half-naked Clay tied up and is torturing him. He calls Elena and offers Clay in exchange for her.
Meanwhile, at the hospital, Philip's mom and sister worry about him. Philip insists he was stabbed in a robbery (vs. telling the truth, that Elena's a werewolf and other, evil werewolves stabbed him).
Logan, injured off last episode's showdown with the bad Pack, shows up at Stately Stonehaven Manor with Rachel. The Pack attends to him. Rachel finds this fraternity-plus-Elena weird, but doesn't suspect they are wolves.
Elena makes moves to go exchange herself for Clay, but Jeremy forbids it and locks her in a cage (!). HE'LL figure out how to solve this problem.
A healed Logan frees Elena, who....
....goes and confronts Santos. He tells her all he wants it to mate with her (ewww) and have werewolf babies. She doesn't really have time to react, because she learns bad guy wolf Victor Olson is going after Philip.
Elena catches up with Victor, kidnaps him, then tortures him into revealing Clay's location. After he does, Elena leaves him to bleed to death.
Philip, now out of the hospital, pledges his love for Elena. He wants to run away with her. Is this guy a glutton for punishment or the most romantic ever? Perhaps Elena's not sure, because she tells him she'll only hurt him and takes off for Clay.
Elena, invoking Cheetara of Thundercats, uses a steel rod to knock out Santos and Karl Marsten, allowing her to rescue Clay.
Back at Stonehaven, Jeremy makes a whopper of a confession: Clay only turned Elena back in the day beause Jeremy, assuming Elena saw him change, was going to kill her to protect his secret. So, really, Clay turned Elena into a wolf to save her life.
Realizing Clay's love - AND that he kept this quiet so Elena would not hate Jeremy - Elena goes up and cuddles with the unconscious Clay (because cuddling with the unconscious is not creepy at all).
Meanwhile, Daniel Santos checks in with his boss - James Williams, Philip's client that gave him the video of Elena-and-Logan-as-wolves romping. He orders Santos to raid Stonehaven. What's his agenda, though?