Remove skin from ham; trim fat to ¼-inch thickness.
Make shallow cuts in fat 1 inch apart in diamond pattern.
Place ham in roasting pan.
Insert ovenproof meat thermometer so tip is in center of thickest part of ham and does not touch bone or rest in fat.
Add broth to pan.
In 2-quart saucepan, stir together preserves, brandy, vinegar, 3 tablespoons mustard, the honey and pepper; heat to boiling over medium-high heat, stirring constantly.
Reduce heat to medium-low; simmer 5 minutes, stirring constantly, until mixture is slightly reduced.
Cover and refrigerate half of cherry mixture until serving time.
Brush ham with half of the remaining cherry mixture.
Place pan on lowest oven rack.
Bake 4 hours to 4 hours 30 minutes or until thermometer reads 140°F, brushing with remaining cherry mixture every 30 minutes.
Let stand 15 minutes before slicing.
Serve ham with mustard and reserved cherry mixture.