Translation
This master will defend himself with these sticks against the spear in this way. When the one with the spear is near enough to strike, the master uses his right hand with the stick for the head of the spear. And immediately after that one he goes with his other stick, covering the spear, and with his dagger he strikes to the chest according to what is drawn after.
Interpretation
Here, you are essentially running down the opponents spear until you are close enough to use your dagger. The sticks the 3rd master uses could be any improvised weapon held with a single hand. It would work just as well with empty hands. It is worth noting that the dagger is implied, but not actually drawn.
As your opponent delivers their attack, step offline with your front foot, turn your hips anticlockwise, and use your right hand to brush the spear point past your left shoulder. There is no need to push the spear point way off to the side. As long as it has missed, you have moved it enough. Any further will be an unneccesary expense of time and movement, which will simply slow you down.
Step through with your right foot. As you do so, use your left hand to push against the spear and define your left edge. There is no need to push it further away. You are simply creating a barrier. The greatest danger at this point is that your opponent will strike with the butt of the spear from your right side. To prevent this, be sure to step in close and crowd your opponent.
As you step, either club your opponent with the stick in your right hand, or drop it, so as to be able to draw your dagger and stab them. The lesson of this play is not so much the finish, as how to close on your opponent down the length of the spear shaft.