I think you had better witnesses just before me to explain the details.
My understanding of it is that a deferred prosecution agreement is exactly what it says, that the prosecutor defers going through to trial and conviction in exchange for an agreement. The agreement is binding. It has compliance tools. It is court supervised and it can be revoked. It's essentially an alternative sentence or an alternative punishment deal. Much like when individuals are charged with crimes, there are restorative justice options.