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Preheat grill.
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In a medium saucepan, heat the olive oil over medium heat until hot.
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Add the shallots and saute until softened- about 3-4 minutes.
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Add the cherry preserves, balsamic vinegar, Italian seasonings, and the pepper.
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Reduce heat to medium low and cook until the mixture is reduced by one-fourth.
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About 6-8 minutes.
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Reserve 6 tbsp of glaze in small bowl.
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Lightly season chicken breasts with salt.
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Place chicken on grill.
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Cook, covered for 4 minutes per side.
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Brush one side with glaze.
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Let set for 1 minutes then flip and brush other side with glaze.
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Repeat until chicken is cooked through.