Ǫrr tegask Ôleif gerva
(allt hefr sá*) fjǫrvaltan
— konungs dauða munk kvíða —
Knútr ok Hôkun (úti).
Haldisk vǫrðr, þótt vildit
varla Knútr ok jarlar,
(dælla es) fyrst á fjalli
(fundr, ef sjalfr kømsk undan).
Ǫrr Knútr ok Hôkun tegask gerva Ôleif fjǫrvaltan; sá* hefr allt úti; munk kvíða dauða konungs. Vǫrðr haldisk fyrst á fjalli, þótt Knútr ok jarlar vildit varla; dælla es, fundr, ef sjalfr kømsk undan.
Bold Knútr and Hákon prove themselves ready to put Óláfr in danger of his life; he [Knútr] has all [his forces] out; I will dread the death of the king. The guardian [Óláfr] should in the first instance keep himself in the mountains, even though Knútr and the jarls hardly wanted [that]; it is easier, a meeting, if he himself gets away.
 Ǫrr: ‘Ort’ Flat
 ǫrr ‘bold’: This adj. can mean either ‘bold’, appropriate to this context of Knútr preparing to attack Óláfr, or ‘generous’, which would tally with references to Knútr’s generosity in sts 5 and 7.
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