vs 1 servants under the yoke - when we have a task to do and we don't want to do it, it is considered that we are "under the yoke". A yoke is what the oxen wear when they are bound together. It is placed on their shoulders and helps to keep them together as they pull a cart.
vs. 1 count their masters worthy of honor - when we consider who it is that asks work of us, we should honor them and respect them. This serves to not only change our hearts, but also serves to add honor to our being believers of God's word.
vs. 2 believing masters - when we have masters who also are of our faith. (boss, owner(if slave), leaders, family patriarch, basically anyone who requires work from us, let us not despise them thinking that they should lighten our burden because we "brethren of the same faith", but rather we should serve them with faith
vs. 2 do them service. - give of ourselves to those in need. Give of our hearts and of our means that we might build up the faith of the beloved.