It was Ljot's usual habit to get up early to see to his work and cattle. Gudmund and his men waited in the woods on a tongue of land between two glens. They saw a man leave the farmhouse wearing a dark cape and holding a battle-ax in his hand. He went to the sheep pen and drove out the sheep. Then Gudmund told his men to run up and grab him, but not to use weapons on him.
Ljot saw them, turned around, and ran towards the glen with the battle-ax in his hand. He leaped into the glen, and since there was ice underfoot, he slid all the way down. He wasn't hurt.
Gudmund said, "There he goes!" and threw a spear after him, but it only hit his battle-ax. Ljot picked up the spear and went home. Gudmund went back to the woods and said, "Ljot is skillful, and such men fare well. He's not a troublemaker, but a brave man and shrewd. He took the only way out and he must have known before that he could escape that way. We'll wait now and see what he means to do. We'll not turn away even though staying here is rash indeed."
When Ljot came home he kept the spear -- it was inlaid with gold. Later his men asked where it had come from. Ljot answered, "Gudmund the Mighty sent it to me." They asked who brought it, and Ljot said Gudmund trusted no one in this matter, adding, "He sent it himself."
W. Bryant Bachman, Jr., Four Old Icelandic Sagas and Other Tales,"The Saga of Valla Ljot", pages 62-3.