American housewife Cathy Palmer loses her memory on a trip to Paris after being hit by a car. She wakes up in the hospital believing she's the fictional international spy, Rebecca Ryan.
A husband and wife, both of whom are career-oriented, agree never to step on the other's ambitions. Unfortunately, both become too ambitious for their own good, and, true to the film's title, their verbal "contract" is shattered.
An interracial romance develops around a despondent, ex-minor league hockey player intent on killing a morally corrupt financial executive with conservative political values.