The Eyelander is an unlockable melee weapon for the Demoman. It is a large bloodstained and battle-worn claymore reputed to be haunted by a bloodthirsty, malevolent spirit. As such, the blade will occasionally mutter the word "heads" when held. Along with having a longer range than most melee weapons, the Eyelander reduces the wielder's health by 25, resulting in a total of 150 base health points. It also cannot deal random critical hits, forcing players to rely on the Chargin' Targe, Splendid Screen, or Tide Turner's special ability or a crit boost to deliver any critical hits. The main benefit of the weapon is that it will decapitate enemies upon a kill, and doing so will increase the Demoman's base speed by 8% and base health by 15, as well as healing the Demoman for 15 health. This bonus will continue with each beheading until the player has collected a maximum of 4 heads, at which point the Demoman's speed will be capped at 370 Hammer units per second, slightly slower than a Scout, and health will be capped at 210. At this point, collecting another head will only provide the healing. If this healing puts the Demoman over his maximum health, it will be gained as overheal, similarly to the Powerjack. Collecting up to 5 heads will also increase the damage a Demoman deals when using the Chargin' Targe or the Splendid Screen's charge attack; an additional 20% is added to the base damage of the charge for each head. The number of heads taken is shown in the HUD. Collected heads are retained as long as the Demoman is alive, and do not carry over to his next life. Cutting off an opponent's head also has a cosmetic effect; the Demoman's eyepatch will glow unremarkably after taking only one head, but as he takes up to four heads, the eye becomes brighter and brighter. As an added advantage, if the player decapitates an enemy Demoman wielding the Eyelander, Horseless Headless Horsemann's Headtaker or Nessie's Nine Iron, in addition to the enemy Demoman's own head, the player receives any heads previously taken by that Demoman. Taunting with the Eyelander equipped will perform the Decapitation kill taunt. The Eyelander is automatically given to any player who obtains 11 Demoman achievements.

Borrowed (Stolen) from the Official TF2 Wiki