Retired United States Special Forces Colonel John Matrix is informed by his former superior Major General Franklin Kirby that all the other members of his former unit have been killed by unknown mercenaries. The mercenaries, among them Bennett, an Australian ex-member of Matrix's team discharged for excessive violence, attack Matrix's secluded mountain home and kidnap Matrix's young daughter Jenny. While trying to intercept them, Matrix is also overpowered and abducted by the mercenaries. He is taken before their commander, Arius, a South American former dictator Matrix removed from power. Arius blackmails Matrix into carrying out a political assassination in his home country of Val Verde, where Arius wishes to lead a military coup. With Jenny's life on the line, Matrix reluctantly accepts the demand, but not before killing Diaz while refusing to cooperate with "his men".
After boarding a plane to Val Verde, Matrix manages to kill his guard, Henriques - by snapping his neck - and jumps from the plane just as it is taking off. With approximately 11 hours before the plane is scheduled to land, he sets out after another of Arius' men, Sully. He enlists the aid of an off-duty flight attendant, Cindy, and instructs her to follow Sully to a shopping mall. Cindy first assumes that Matrix is a madman, but after she sees Sully pull a gun on Matrix in the ensuing fight, she decides to assist him in his endeavor. After a lengthy car chase, Matrix catches up with Sully and drops him off a cliff to his death. Taking a motel key from Sully's jacket, Matrix tracks down and confronts Cooke, a former Green Beret in Arius' employ. He impales Cooke on a table leg after a lengthy fight and learns where Jenny is being held.
Matrix breaks into a surplus store to equip himself with military weaponry, but is immediately arrested by the police. Cindy helps him escape by using a rocket launcher on the police car and, after commandeering a seaplane from a nearby marina controlled by Arius, Matrix and Cindy land the plane off the coast of Arius' island hideout. Matrix instructs Cindy to contact General Kirby and then proceeds to Arius' villa, killing Arius and his army. Jenny escapes to the villa's basement, but is captured by Bennett. Matrix tracks them, and after a lengthy fight, finally kills Bennett by impaling him with a steam pipe. Kirby arrives with a military detachment and asks Matrix to rejoin the unit, but Matrix declines and departs the island aboard the seaplane with Jenny and Cindy.
Arnold Schwarzenegger as Colonel John Matrix
Rae Dawn Chong as Cindy
Alyssa Milano as Jenny Matrix
Vernon Wells as Captain Bennett
James Olson as Major General Franklin Kirby
David Patrick Kelly as Sully
Bill Duke as Cooke
Dan Hedaya as Arius
Drew Snyder as Lawson
Michael Delano as Forrestal
Charles Meshack as Henriques
Carlos Cervantes as Diaz
Chelsea Field as brunette stewardess
Bill Paxton as intercept officer