Combine preserves, ginger lime juice, mustard and lime peel in heavy small saucepan. Stir over low heat until preserves melt.
Sprinkle both sides of ham with pepper; press lightly so that pepper adheres. Brush ham with some of peach glaze.
Grill ham until heated through, lightly browned and beginning to crisp at edges, brushing occasionally with more glaze, about 3 minutes per side. Cut ham in half. Transfer to plates. Brush with any remaining glaze and serve.