Var laushendr
lofða stýrir
á blóðorms
beinu skapti
en haldsamr
at hjarar leiki
á geir-Týs
grænni málu.
Stýrir lofða var laushendr á beinu skapti blóðorms en haldsamr at leiki hjarar á grænni málu geir-Týs.
The controller of men [RULER = Hákon] was openhanded with the straight shaft of the blood-snake [SPEAR] but tight-fisted in the play of the sword [BATTLE] on the green wife of the spear-Týr <god> [= Óðinn > = Jǫrð (jǫrð ‘earth’)].