Grease and flour tube pan. Place nuts in bottom. Mix cake mix, pudding mix, rum, water, oil, and eggs for 2 minutes in a large bowl. Pour mixture over nuts. Bake at 325 degrees for 50-60 minutes. Remove from oven and pour on hot glaze*. Cool cake for 30 minutes and remove to serving platter.

*Glaze - Boil 1 cup of sugar, 1 stick of butter, 1/4 cup of rum, and 1/4 cup of water for 2 to 3 minutes.