Complex sentence: The Hoyvík Agreement is a free trade agreement between the Faroe Islands and Iceland that was signed 31 August 2005 in the town of Hoyvík in the Faroe Islands.
Split into simpler sentences: The Hoyvík Agreement is a free trade agreement between the Faroe Islands and Iceland. The agreement was signed 31 August 2005 in the town of Hoyvík in the Faroe Islands.