Drain apricots, reserving 1 cup syrup; set aside. Cut apricots in half; set aside. Score edges of ham; place in a shallow 2-qt. microwave-safe dish.
In a small bowl, combine brown sugar, cornstarch and nutmeg; stir in vinegar and reserved syrup until smooth. Pour over ham. Cover and microwave at 70% power for 3-1/2 minutes. Turn ham; arrange apricots on top. Cover and microwave at 70% power for 6-8 minutes or until the sauce is thickened. Let stand for 2 minutes.