Cut outer edge of fat on ham diagonally at 1-inch intervals to prevent curling (do not cut into ham). Mix mustard, honey and preserves.
Heat coals or gas grill for direct heat. Grill ham uncovered 4 to 6 inches from medium-high heat 4 minutes. Turn ham; brush with mustard mixture. Grill 4 minutes longer. Turn ham again; brush with remaining mustard mixture. Grill about 2 minutes longer or until heated through.