After the revelation of El’s pregnancy, El swears Peter to secrecy.

 

Convinced that the spoken word has lost its sanctity, Neal presented Peter with a contract drawn up by Mozzie to secure his freedom once Neal aids the FBI in catching the Pink Panthers. Peter expressed his desire for Neal to have his freedom, but warned him it wouldn’t be without risk.

 

Neal makes his first meet with the Panthers, only to be surprised to find long-time rival Matthew Keller also in attendance. It isn’t long before he’s given his first assignment - to steal a valuable stamp within 48 hours or else risk his newfound membership.

 

Peter was immediately hesitant when he discovered that Keller was involved, but reluctantly agrees to participate in order to help Neal, knowing Keller will face judgment in time.

 

Matters are only made more complicated when Neal tries to meet the mark as Nathaniel Dietrich. She refuses to negotiate with him, agreeing only to meet with his father, Elias, and Peter is forced to step into the con. With his help, Neal is able to pull it off. ‘

 

Trouble comes when the FBI is forced to report the stamp to an international registry in order to locate its international owner. Peter forbids Neal to continue pursuing the Panthers, but he did so anyway by creating a forgery.

 

Neal determines that Keller is working for Interpol and calls him on it.

 

Peter lobbied his contact in DC to sign Neal’s contract, and managed to get the Attorney General of the United States to sign it.  As Peter and Neal revel in what might be to come, Peter shares the news of El’s pregnancy.