- Gisborne awaits his execution in a Nottingham dungeon, and meets a fellow prisoner who has a profound effect upon him. Robin thinks he can strike a deal with Sheriff Isabella, but his plans are thwarted when an unexpected stranger from her past arrives, looking for revenge.—Anonymous
- Robin sneaks into newly appointed Sheriff Isabella's room at night and tries to persuade her not to strike a deal with John and help him and King Richard instead. She refuses and calls for the guards. Robin climbs out of the window on a rope, and Isabella tries to kill Robin by cutting the rope, but doesn't manage to do so in time. An ominous new arrival, Squire Thornton (who, we may remember, is the man Isabella had run away from), watches these events.
Later, the gang sneaks into town to see what the new Sheriff is like. Isabella presides over a dispute between a young woman named Meg and her father. Meg refused to take the men her father had assigned to her as her husband, bribing them to leave with her father's money. Isabella, who has shared the experience of bad forced marriages with Meg, rules in the girl's favor and actually takes her on as a sort of advisor. She also announces that Guy is to be executed soon, and that she intends to rule fairly and justly. That's when Thornton arrives and announces that he is the new Sheriff, relegating Isabella to the role of homemaker (the guards do not make any fuss about this, though it later turns out John has apparently approved this and is expecting news of Thornton's safety).
Meg promises Thornton that she can make him rich if he doesn't hurt Isabella, telling him about a hidden treasure at Dead Man's Crossing.
Kate is still jealous of Isabella and kisses Robin. However, then Robin notices Thornton and Isabella moving out and uses that as a convenient excuse to escape this awkward situation and prepare to ambush the Sheriff.
Meg is thrown into a cell next to Guy. Guy is annoyed by Meg's chatter and Meg despises Gisborne.
Thornton has Isabella dig at the spot Meg had told them about. Despite fears that it was a wild goose chase, she actually does end up uncovering something.
Meg and Guy continue to chat. Guy tells Meg about how he had sold Isabella to Thornton, which Meg, not unexpectedly, is outraged at.
Thornton begins looting the treasure, killing a guard who he thought was trying to steal some treasure. The gang, meanwhile, are already watching them and are making preparations to take the soldiers on. They leave Much and Kate behind to watch Thornton, while the others stop a cart that's intended to haul the gold back into the castle, taking the soldiers' place in disguise.
Guy and Meg talk about whether Guy fears the prospect of dying - which he really doesn't. Guy gives her his bread after it turns out hers is all moldy and full of worms. They eventually warm up to each other.
Kate, oblivious to Much's attraction to her, asks him to try and get a word in to Robin about how she likes him. This has negative consequences later. After Thornton's men pack the treasure onto the cart, Robin and the gang ambushes the soldiers; Much is supposed to leave with the cart, but gets distracted by the sight of Robin and Kate fighting together, which leads to a soldier knocking him out and leaving with the cart.
Isabella runs away and Thornton chases her through the forest, but Robin finds her first. An obviously distressed (or, at least, pretending to be) Isabella embraces Robin and promises him to fight for King Richard and return the gold to him in exchange for helping them fight for King Richard.
Robin ambushes Thornton later by having Tuck scare away his superstitious soldiers by dressing up as a black rider. They tie up the squire and have some random guy in the forest carry him away on his cart to who knows where.
Little John escorts Isabella back towards Nottingham, letting it slip in the meanwhile that Robin is probably attracted to Kate, if anyone, and certainly not to Isabella. Isabella's expression turns stormy at this revelation. The gang soon returns to the camp and most of them go sleep. Still miffed about Kate loving Robin, Much wanders off from the camp while the others are sleeping.
Having come back to the castle, Isabella sets Meg free and warns her not to fall for the charms of Guy. Meg later comes back to talk to him. Guy tells her about how he had killed Marian, who had made him a better man by his own admission, and the two of them cry a little about it. Meg hops back upstairs to steal the prison cell keys and bust Guy out, but Isabella notices this and stops them in time, so now both of them are on the fast track to execution.
The gang, sans Much, head to the place (Knight's Glade) where Isabella had agreed to deliver them the gold. Much, who just convenient-coincidentally happens to be along the road where Isabella is approaching, notices them acting suspicious. Isabella lures Robin and his friends into a trap, but Much notices that the soldiers' horses are lightly guarded, so he steals them and rides them into the glade, causing disarray among the troops and letting the gang make their escape.
The gang decides to go for plan C, which involves using Gisborne's execution as a distraction to help sneak in and steal the gold. They witness the fact that Meg is now also scheduled for execution; Guy begs Isabella to spare her but to no avail. Robin decides to save the day and kill the executioner, leading to the two lovers breaking free. Meanwhile, the clearly deranged Thornton turns up once again - surprisingly, it turns out that sending him away with only an unarmed cart driver watching him wasn't the best idea. He makes a beeline straight for Isabella, who runs inside.
A halberdier comes for Guy from behind, and Meg pushes Guy aside, but takes the halberd stab in the process, "stuffing herself into the fridge" so to speak by sacrificing herself for Guy. Robin run into the castle to steal the gold, but hear Isabella is in trouble, and Robin decides that he's got to save her from Thornton. However, by the time he arrives, Isabella has already dealt with the problem, tricking Thornton with her feminine charms while pulling out a dagger and stabbing him. Thus all Robin can do is taunt her about having stolen the gold. Later, Isabella promises to take revenge on Hood while ordering the guards to kill all of Thornton's men to hush up the whole incident.
Guy carries Meg out of the castle and comforts her in her last moments. Robin and Kate, for their part, have a talk of their own after they're back to camp. Kate teases Robin about Isabella's treacherous nature and how he had fallen for her, while Robin pretty much confesses his feelings towards her too.
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