Ítrfermðum réð Ormi
orðsæll jǫfurr norðan
— snǫrp varð at þat sverða
snót — Eireki á móti.
En hýjǫfnum hefnir
hlýrs þeim Gota stýrði
— áðr óx of gram góðan
gunnr — Hôkonar sunnan.
Orðsæll jǫfurr réð ítrfermðum Ormi norðan á móti Eireki; snót sverða varð snǫrp at þat. En hefnir Hôkonar stýrði þeim hýjǫfnum Gota hlýrs sunnan; gunnr óx áðr of góðan gram.
The acclaimed prince [Óláfr] guided splendidly-laden Ormr (‘Serpent’) from the north against Eiríkr; the lady of swords [= Hildr (hildr ‘battle’)] became keen at that. But Hákon’s avenger [= Eiríkr] steered that very straight Goti <legendary horse> of the bow [SHIP] from the south; battle had swelled earlier around the good ruler.
[5, 8] hefnir Hôkonar ‘Hákon’s avenger [= Eiríkr]’: Hákon jarl Sigurðarson, Eiríkr’s father, ruled most of Norway before being driven out by a rebellion of farmers which coincided with the advent of Óláfr Tryggvason. According to Hkr (ÍF 26, 296-8) he was killed by a servant while hiding in a pigsty. His son’s defeat of Óláfr is therefore not direct revenge but some recompense for Hákon’s loss of power and honour.