The two individuals in question are not both servants or bondmen; in the master-slave dialectic, one person is the lord, and the other is the bondman.
In paragraph two it states that the master or bondsmand works on objects. However, it is the slave who works on objects and from which he can find himself.
See Kain, P. J. (2005). Hegel and the Other : A Study of the Phenomenology of Spirit. Albany, NY: State University of New York Press.