Gilda Farrell, a commercial artist, encounters two charismatic American expatriates, Tom Chambers and George Curtis, on a train bound for Paris. Tom is an aspiring playwright, while George is a painter, and both are immediately attracted to Gilda. She finds herself equally drawn to their distinct qualities and suggests a platonic "gentleman's agreement" to live together in their small Paris apartment, supporting one another's artistic endeavors without romantic entanglements. Despite their best efforts to maintain the agreement, the trio's mutual affection and creative passions inevitability stir up complex emotions, testing the strength of their unconventional arrangement.

As Tom and George struggle to break into their respective careers, Gilda's encouragement and inspiration prove invaluable. However, tension mounts as their feelings for her become more pronounced and harder to control. The once-simple living arrangement becomes fraught with jealousy and professional rivalry, as both men vie for Gilda's affections while grappling with their own ambitions. Torn between her loyalty to the men and her own desires, Gilda must navigate the evolving dynamics of their relationship, leading to unexpected twists and confrontations that challenge their commitment to one another and their shared pursuit of artistic fulfillment.