Nú liggr allt und jarli
(ímunborðs) fyr norðan
(veðrgœðis stendr víða)
Vík (Hôkunar ríki).
Nú liggr allt fyr norðan Vík und jarli; ríki Hôkunar, ímunborðs veðrgœðis, stendr víða.
Now everything north of Viken lies under the jarl’s rule; the realm of Hákon, the increaser of the storm of the battle-board [(lit. ‘storm-increaser of the battle-board’) SHIELD > BATTLE > WARRIOR], stretches far and wide.