What is a 'Companion Reward Ticket'?

Hi,
Can't seem to find an exact definition either here or on VS website.
I've got a 'Virgin Atlantic Companion Reward Ticket' since renewing my gold status for another year.
On the website I can see it says:
Does this basically mean I pay for a relatively flexible ticket and my companion get's a cheap reward flight (20k miles instead of the normal rate)?
I know about having to pay the relevant surcharges on a reward booking so it is basically saving some miles on a booking but having to buy a possibly more expensive revenue ticket as well so not a great benefit?
Can't seem to find an exact definition either here or on VS website.
I've got a 'Virgin Atlantic Companion Reward Ticket' since renewing my gold status for another year.
On the website I can see it says:
Companion reward flights are available from as little as 20,000 miles when purchasing a qualifying full adult fare. Please call your Flying Club helpline to book a companion reward flight or for more information.
Does this basically mean I pay for a relatively flexible ticket and my companion get's a cheap reward flight (20k miles instead of the normal rate)?
I know about having to pay the relevant surcharges on a reward booking so it is basically saving some miles on a booking but having to buy a possibly more expensive revenue ticket as well so not a great benefit?