Here’s my translation

Alan

En Óttarr hjó Örnólf banahögg, ok síðan váru margir menn særðir förunautar Gellis. 
But (And) Óttarr hewed Örnólfr [his] death-blow, and after-that many persons (men), the travelling-companions (masc nom pl) of Gellir, were wounded.

Síðan beiddu góðgjarnir menn griða, ok af því at margir góðir menn ok vitrir váru við staddir, þá var sætzt á þessi mál þeira í millum. 
After-that benevolent people (men) sued for quarter, and because (lit: from that that) many good persons (men) and wise were present, then [it] was settled in these cases (neut acc pl) between them.

Um víg Örnólfs ok áverka, er þar gerðist, skipuðu þeir Hrafn ok Jón Brandsson. 
They Hrafn and Jón Brandr’s-son arranged [it] (ie settled matters) concerning [the] slaying of Örnólfr and bodily-injury, which there arose.

Á þeim fundi var Eilífr Snorrason. 
Eilífr Snorri’s-son was at that meeting.

Hann kvað þá vísu þessa:
He recited then this verse:

[Option A]

   Strendir hvöttu vápn vánd,
[The] Strendir (ie inhabitants of Strönd) sharpened (<hvetja>) wicked weapons,

   víða ferr Yggs líð,
widely travels [the] strong-ale of Yggr (ie poetry)

   Gellir vissi fyrir fall,
Gellir knew of [the] fall [of men in battle] beforehand,

   flatir skriðusk menn at.
Prostrate people (men) crawled against one-another.

   Lofti vas sú gefin gift,
That good luck was given to Loptr,

   grjóti mætti hans spjót.
his spear met (<moeta>) stones.

   Jóan leyfði ok þá
Jón permitted also then

   öldum at líta skjöld.[8]
men (<öld>, Z3) to behold [his] shield.

[Option B]

[I don't see an option B listed for the text I am using]


[Option C]

   Strendir hvöttu léleg vopn,
[The] Strendir (ie inhabitants of Strönd) sharpened (<hvetja>) vile weapons

   — víða fer vísa mín,
- widely my verse travels (present tense),

   — Gellir vissi fyrir mannfall.
- Gellir knew of the-loss-of-life (lit: fall of man)-in-battle beforehand.

   Menn skriðu hvorir gegn öðrum á maganum.
Persons (men) crawled on the[ir]-bellies (<magi>), each [side] against [the] other [side].

   Loftur var svo lánsamur, að spjót hans kom í grjót (þ. e. stein — Hólmstein).
Loptr was thus lucky (cf MnI and <láns-maðr>, m. a lucky man, CV), that his spear came into stones (i.e stone - Hólmstein)

   Jón leyfði mönnum þá einnig að sjá skjöld sinn.
Jón permitted persons (men) then likewise to see his shield.

Á þeim fundi var sætzt á víg Markúss ok víg Ketils ok áverka alla, þá er þar gerðust á þeim fundi. 
At that meeting (masc dat sg) [it] was come-to-terms on [the] slaying of Markús and [the] slaying of Ketill and all bodily-injuries, those which there arose at that meeting (masc dat sg).

Jón Loftsson skyldi gera slíka fésekt sem hann vildi gert hafa. 
Jón Loptr’s-son should fix-the-amount (<göra>, Z10) of such fines as he wanted to have fixed.

Þau fégjöld handsöluðu þeir Hrafn ok Krákr Þórarinsson, Helgi, bróðir Guðlaugs, Páll Surtsson, bróðir Árna. 
They confirmed-by-shaking-of hands those payments, Hrafn and Krákr Þórarinn’s-son, Helgi, brother of Guðlaugr, Páll Surtr’s-son, brother of Árni.

Þat var ok skilit undir sætt, at Ingi skyldi fara braut af landi ok koma aldrigi aftr. 
That was also stipulated under [the] agreement, that Ingi should journey away from [the] country and never come back.

Guðlaugr ok synir Inga skyldu fara í brott ór Vestfirðingafjórðungi ok verða þar aldri síðan vistum. 
Guðlaugr and [the] sons of Ingi should journey away out-of [the] West-fjords-quarter and never after-that stay (verða vistum) there.

Árni Surtsson var ok heraðssekr um Barðaströnd ok Rauðasand, um Víkr ok Patreksfjörð. 
Árni Surtr’s-son was also outlawed-within-the-district throughout Barðaströnd and Rauðasandr, throughout Víkr and Patreksfjörðr.

Ok um sumarit eftir á alþingi gerði Jón Loftsson um þessi mál, svá sem ætlat hafði verit. 
And during the-summer after at [the] Allthing Jón Loptr’s-son, fix-the-amount [of the fines] (<göra>, Z10, see above) in these cases (neut acc pl), such as had been intended.

Þau fé öll, sem ger váru, guldust at máldögum. 
All those monies, which were fixed (pp of <göra>, Z10), were paid in accordance with [the] agreements.

Ingi fór í brott af landi ok kom aldri aftr síðan. 
Ingi journeyed away from [the] country and never came back after-that.

Guðlaugr ok synir Inga fóru í brott ór Vestfjörðum. 
Guðlaugr and [the] sons of Ingi journeyed away out-of [the] West-fjords.

Loftr gaf mörgum mönnum sakir, þeim er verit höfðu vinir Inga, ok tók fé af. 
Loptr remitted [the] charges (gefa e-m (upp) sakir, under s-k, Z1) for many persons (men), those who had been friends of Ingi, and took off [the] monies (waived the fines?).

Árni Surtsson var síðan í Tálknafirði.   
Árni Surtr’s-son was after-that in Tálknafjörðr (Fjord of Whale-bones).

Þá var þat mælt af nökkurum mönnum fyrir Lofti, at Árni væri ills verðr af honum fyrir þat, at hann hafði óhelgat föður hans.    
Then that was spoken by some men before Loptr (ie to his face?), that Árni was worthy of ill from him (ie should remain in his bad books) for that, that he had his father declared-outlawed.

Nökkurum misserum eftir víg Markúss fór Loftr ok sá maðr með honum, er Galti hét, í Tálknafjörð á þann bæ, er í Krossadal hét. 
Several seasons after [the] slaying of Markús, Loptr journeyed, and that man with him who was-called Galti, to Tálknafjörðr to that farm, which was-called in Krossadalr.

Þeir hitta þar heimamenn ok spyrja, hvar Árni sé, en þeim var sagt, at hann var eigi heima.   
They meet there members-of-the-household and ask, where Árni is, but (and) [it] was said to them, that he was not at-home.


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