- Preheat oven to 325°F. Using a sharp knife, score top of ham in a crisscross pattern. Place ham in a large roasting pan and sprinkle with allspice. Pour cola into pan and bake uncovered for 45 minutes, basting occasionally with pan juices.
- Meanwhile, in a medium saucepan, combine remaining ingredients and cook over medium heat 3 to 5 minutes, or until cherry preserves are melted.
- Remove ham from oven and brush top and sides with glaze. Return ham to oven and cook for 45 more minutes, or until a meat thermometer inserted in the thickest part of the ham registers 140°F., brushing with glaze every 15 minutes. Remove ham from oven and let rest 15 to 30 minutes before slicing. Serve warm or cold.