Fred Claus and Santa Claus have been estranged brothers for many years. Now Fred must reconcile his differences with his brother whom he believes overshadows him. When an efficiency expert assesses the workings at the North Pole and threatens to shut Santa down, Fred must help his brother to save Christmas.

Two sisters and their boyfriends drive to a small cabin to spend the weekend with the girls parents. However, when they arrive, they find them missing and the cabin in disarray. Things worsen as they become stranded at the remote lake, cars not starting, cell phones useless. As the autumn sun fades away something creeps from its lake dwelling in search of blood... human blood. And while the mystery of what happened to the parents unravels so too does the bond of friendship as pasts crash in on the present. Not everyone will survive the night, but those that do will be dead in the water.