Preheat the oven to 350 degrees F (175 degrees C).
Cut 1 inch deep criss-crosses into the flat side of the ham. In a small bowl, mix together the butter and honey. Slather onto the ham, making sure to get in the crevices too. Insert cloves into the ham. Place in a roasting pan.
Bake for 4 hours in preheated oven, or 20 minutes per pound. The internal temperature should reach 160 degrees F (70 degrees C). Baste every 20 minutes with the drippings. Remove, slice and serve.