You weren't very specific as to which part you don't understand, but maybe it will help you if someone paraphrases the instructions you've posted. I'll give it a try.

Shape Neck
"K30 and turn, place rem. sts on a holder." - This part is pretty much just what it says. After knitting 30 stitches, place the remaining stitches (the ones you haven't knit) on a stitch holder or a length of waste yarn.

"BO 4 sts, purl to end: 26 sts" - You're starting with the 30 stitches you just knit. Bind off 4 stitches (it takes 5 to bind off 4), then purl to the end of that row.

"Dec 1 st at neck edge on next three rows" - First row: Knit 24, then knit 2 together. Second Row: Purl 2 together, purl 23. Third Row: Knit 22, then knit 2 together.

"then EOR twice" - Next row: Purl. Next Row: Knit 21,then knit 2 together. Next row: Purl. Next Row: Knit 20, then knit 2 together.

"then on foll 4th row" - Purl one row, knit one row, purl one row, next row: knit 19, then knit 2 together.
"Work 3 rows, ending with WS row" - Purl one row, knit one row, purl one row.

Shape Shoulder
Bind off 7 stitches at the beginning of next row, knit to the end of the row. Purl the next row. Bind off 7 stitches at the beginning of the next row, knit to the end of the row.
Purl the next row.
Bind off the rest of the stitches

With the right side facing you, rejoin yarn to the remaining stitches, bind off the center 12 stitches, knit to the end of the row.

Complete to match first side, reversing shapings and working an extra row before start of shoulder shaping.

I hope that helps.

Okay, thank you very much!