In preparation for Operation Overlord, the Allied invasion of Nazi occupied territory, the 'overlords' were the few Allied agents who knew the details of the operation. When one them is captured by the Germans, a double agent must infiltrate occupied Paris, with the help of a high level German officer and the French Resistance.

Freddy, a Viennese Jew who emigrated to New York after Hitler's invasion, and Adler, a left-wing intellectual originally from Berlin, return to Austria in 1944 as soldiers in the U.S. Army. Freddy falls in love with the daughter of a Nazi, and Adler attempts to go over to the Communist Zone. But with the advent of the Cold War and continuing anti-semitism, the idealism of both characters is shattered as they find themselves surrounded by cynicism, opportunism, and universal self-deception.