Step 1: I a medium heavy-bottomed saucepan, combine all ingredients except pretzels. Bring to a full boil, reduce heat to medium, and cook at a low boil for 7 1/2 minutes, stirring constantly. Remove from heat then beat with a mixer on medium-high for 4-5 minutes, until mixture starts to thicken and loses its sheen.
Step 2: Stir in pretzels. Pour into a buttered pie plate. Make into 1-inch squares when set but still slightly warm, then let cool and harden before cutting completely.
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