15 years ago the Jeremy singer, 52, was left adrift in the ocean near Hawaii when the mast of the six person sailing canoe he was in overturned, snapping the mast.
Eddie and two female companions were left clinging to paddles in the rough seas, until they were rescued by father and daughter Keith and Ashley Baxter, who were boating nearby.
Earlier this year (16) Keith suffered his own boating accident, in which a rusty anchor almost cut off his leg, leaving him facing possible amputation and a bone infection.
After the accident, Ashley had a chance meeting with Kacky Ovrom Chamberlain, one of the women Keith saved alongside Eddie, and recounted her father's plight.
Kacky set up a GoFundMe.com page to help raise money to pay for Keith's costly medical care, and the band have matched the $70,000 the campaign raised with their own donation, taking the fund to more than $140,000 (£114,000).
In an update to the page posted last week (end25Dec16), Kacky wrote, "The members of Pearl Jam and their manager matched the funds raised by the rest of us. The world is big, but we are all connected. Happy Holidays to everyone!"
The donation to Keith is not the only piece of festive generosity Eddie has shown, as he surprised a Maryland family facing a Christmas without a home by handing them $10,000 (£8,150).