1. Preheat oven to 325 F (165 C). Grease and flour a 10” tube or bunt pan. Sprinkle nuts over the bottom of the pan.
2. Mix together the cake mix, ½ cup dark rum, oil, and vanilla pudding mix. Pour mix in pan over nuts.
3. Bake for one hour. Cool and invert cake on a serving plate. Prick the top of cake (you can use a wooden skewer or toothpick).
4. While cake is cooling you can make the glaze. Melt the butter in a sauce pan, stir in ¼ cup water and ½ cup sugar. Boil for 5 min. stirring constantly. Remove glaze from heat and stir in ¼ cup rum, drizzle and smooth evenly over top and sides.