Preheat oven to 325. Grease and flour bundt pan. Mix together cake mix, rum, eggs, water, cooking oil and instant pudding. Pour batter in cake pan. Bake at 325 for 1 hour. Cool and invert pan.
To make glaze- Melt butter and stir in 1/8 cup water and sugar. Boil for 5 minutes stirring constantly. Remove mixture from the heat and stir in the rum. Drizzle glaze over top of cake. Serve with fresh whipped cream.
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