Heat gas or charcoal grill. In small microwavable bowl, mix preserves, lemon juice, soy sauce and onion powder. Sprinkle chicken with salt and pepper.
Place chicken on grill; cover grill. Cook with medium heat 5 minutes. Turn chicken; spoon about 1 teaspoon preserves mixture over each breast. Cook covered 5 to 8 minutes longer or until juice of chicken is clear when center of thickest part is cut (170°F).
Microwave remaining preserves mixture on High 30 to 45 seconds or until hot. Spoon over chicken before serving.