Most items simply add their initial stat each time it's upgraded. For example the officer's baton gives 250 leadership. 500 after 1 upgrade, 750 after 2 ups. I assume 1000 and perhaps some other bonus on the 4th upgrade(Haven't got it yet). But this counts for every item i've upgraded so far. +5 mana ring to +10, to +15. +10 mana +10% magic restistance belt.. to +20 and then to +30 for each at 3rd and final upgrade. The keepers are usually a bit inbalanced strong though, only being able to defeat them when the bonus is rather insignificant in comparison to your current strength.
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