Cherry Almond Ham Glaze

1 (12 oz.) jar cherry preserves
1/4 c. vinegar
2 tbsp. corn syrup
1/4 tsp. ground cinnamon
1/4 tsp. ground cloves
1/4 tsp. ground nutmeg
1/3 c. slivered almonds
3 tbsp. water

In a saucepan, combine all ingredients except almonds and water. Bring to a boil. Reduce heat; simmer 2 minutes, stirring frequently. Stir in the almonds. About 15 minutes before ham is done, spoon 1/4 to 1/3 cup glaze over ham. Repeat if desired. Stir water into remaining glaze; heat through and serve with ham. Makes 1-1/2 cups glaze.