The Haze of Magic
Phoenix Ring of Revitalization
First, when character falls to 0 or less hp, the first gem breaks and the character is restored to full hp.
Second, when character is reduced to 1/4th hp, the second gem breaks and the character is restored to full hp and the character gains a +4 Deflection bonus to AC and a +4 Morale bonus to Fortitude, Reflex, and Will for 1 hour.
Third, when the character dies, a new vessel is crafted as the Reincarnate spell except there is no negative levels gained and the chart for reincarnation is to be found Here