Preheat oven to 350°.
Trim fat and rind from ham. Score outside of ham in a diamond pattern. Place ham on a broiler pan coated with cooking spray. Bake at 350° for 1 hour.
Stud ham with cloves, if desired. Combine jelly, rum, nectar, and mustard. Brush ham with jelly mixture. Bake an additional 30 minutes or until meat thermometer registers 140°, basting once. Place ham on a platter; cover with foil. Let stand 10 minutes before slicing.