The present invention provides a multifunction resistor having an improved voltage variable material (“VVM”). More specifically, the present invention provides a polymer VVM that has been formulated with a high percentage loading of conductive and/or semiconductive particles. A known length of the relatively conductive VVM is placed between adjacent electrodes to produce a desired Ohmic normal state resistance. When an electrostatic discharge event occurs, the VVM of the multifunctional resistor becomes highly conductive and dissipates the ESD threat. One application for this “resistor” is the termination of a transmission line, which prevents unwanted reflections and distortion of high frequency signals.