The team becomes obsessed with money-lust for a sunken treasure. Their argument about who the unfound treasure belongs to sets Sean off; he thinks they're destroying the team. Jason convinces Sean to permit their treasure hunt by referring to it as a scuba diving exercise and succeeds. The Coast Guard rescue swimmer Nick helps Allie find the areas where they'll most likely find a ship, but warns her that it's very unlikely that they'll be able to locate anything. Sean confronts Dawn with her lack of engagement to the team, and expresses his wish for her to step out of the sideline and into the game. Later on, they are able to locate the sunken ship and dive down to it, but the search becomes dangerous when Jason causes a torpedo to shake loose at the site.

Jason experiences success during a training exercise with the often lifeguards, able to find "the path of least resistance" - being underwater instead of swimming with his head over water. J.D.'s inventions pay off, as he performs a daring underwater rescue. Jessie and Allie become parents for a day after they come across a boy who has lost his mommy. Also, Dawn deals with a painful memory of a life and death choice from her past, as a lawsuit comes her way. Sean promises to fix the mess she's in, and he's able to do so pretty easy. They all get to know that J.D. and Dawn knew each other from the past, which makes the relationship between J.D. and Jessie even more complicated.