In a medium heavy saucepan, melt butter. Stir in flour and cook, stirring frequently, for 2 minutes, or until well blended and beginning to smell toasted.
Gradually stir in half the milk and bring mixture to a boil, stirring constantly. Stir in other half of milk and bring back to boil.
Simmer and stir until sauce thickens.
Remove from heat and stir in Der Alpen Cheese until melted.
Stir in mustard and nutmeg, and season to taste with salt and pepper. Cover to keep warm.
Preheat broiler. Line a heavy baking sheet with foil.
In a large heavy skillet, heat ½ tablespoon of butter over medium heat until bubbly. Add 2 pieces of sandwich bread and toast about 3 minutes on each side.
Transfer bread to prepared baking sheet and repeat with other 2 pieces of bread and another ½ Tbsp of butter.
Divide half of the grated Der Alpen Cheese among the toasts, then top each with 2 slices of ham, then scatter remaining cheese on top of ham.
Broil about 3 minutes, or until cheese is brown and bubbling. Transfer cheese toasts to plates.
Meanwhile, in a heavy nonstick skillet, melt ½ Tbsp butter over medium heat. Crack 2 eggs into the skillet and fry about 3 minutes, or until egg whites have set and the yolks have thickened but not set.
Place on top of cheese covered toasts.
Cook remaining 2 eggs for other 2 toasts.
Pour the warm French sauce evenly over all toasts and serve immediately after adding a dash of paprika over each egg.