þá er lofðungr
Landráð við allvald vara goldit lítlu austan markar, þá er lofðungr hafði mettan leystan gram elris eski.
The treason against the mighty ruler was not repaid in small measure east of the forest, when the lord had sated the released dog of the alder [FIRE] with ash-wood.
 gram elris ‘dog of the alder [FIRE]’: See also Sturl Hryn 11/2. Garm ‘dog’ (so F, 42ˣ, Flat) is also possible. Gramr is the methatesised form of garmr (see ANG §315 Anm. 3). Garmr was the dog whose barking foreshadowed the doom of the gods in ON mythology (see Vsp sts 44, 49, 58, NK 10-11, 14).
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