@Troy: Yes, I have tried that as well and it does not fix the error.
@athlon_crazy: Your suggestion fixed the problem, thank you.
For future reference, here is what I did which fixed the error.
1. Disconnect and remove the host from the cluster and vCenter
2. Run following commands:
/etc/init.d/mgmt-vmware stop
/etc/init.d/vmware-vpxa stop
rpm -qa | grep vpxa
rpm -e VMware-vpxa-2.5.0-147633
/etc/init.d/mgmt-vmware start
3. Reconnect host and add to cluster and no errors!
Strange, but all I care about is it worked. Thanks.