If Oklahoma or Baylor win out, they're in otherwise the Big12 is left out. If Oregon or Utah win out, they're in.
So it looks like this:
1. Ohio State
2. LSU
3. Clemson
4. Oklahoma/Baylor (if undefeated), otherwise Utah/Oregon (as conference champ with 1-loss)
Alabama makes a big stink and the push to expand the playoff begins because when it comes down to it, it's not that Alabama isn't good enough, it's that you can't keep out a 1-Loss P5 conference champion.