I made a script to fix this issue since it is not a Symantec priority.  Backup your database; and I offer to no guarantees and am not responsible - use at your own risk.

STEP 1:  Rename your existing jobs so that you can tell the old ones from the new ones in the database (use the GUI).  Stop your backup exec services.

STEP 2:  Run the following script to find the invalid policy in the Policy table.  Replace the Your_Job_Name text below with the name of the server that is throwing the invalid email alert and execute the query.

DECLARE @targetjob nvarchar(1000)

SET @targetjob = '%Your_Server_Name%

SELECT * FROM Policy WHERE PolicyName LIKE @targetjob

STEP 3:  Narrow down the above results until it returns a single row.  You should be able to identify the invalid row by looking at it; replace the query with more specifc text.  Once you get it down to 1 row, go to Step 4.

STEP 4:  Execute the following block with your specific job text at the top (the one you verified returns a single result.  It will delete the invalid rows. Restart the services and see if the issue is gone.

DECLARE @targetjob nvarchar(1000)

SET @targetjob = '%SERVERNAME Backup Policy-1-2%'

DECLARE @BEJobID uniqueidentifier

DECLARE @PolicyID uniqueidentifier

SELECT @PolicyID = PolicyID FROM Policy WHERE PolicyName LIKE @targetjob

DELETE a FROM Schedule a JOIN TaskDefinition b ON a.ScheduleID = b.ScheduleID JOIN Policy c on b.PolicyID = c.PolicyID WHERE c.PolicyID = @PolicyID

DELETE b FROM TaskDefinition b JOIN Policy c on b.PolicyID = c.PolicyID WHERE c.PolicyID = @PolicyID

DELETE FROM Policy WHERE PolicyID = @PolicyID

SELECT @BEJobID = BEJobID FROM BEJobs WHERE PolicyID = @PolicyID

DELETE FROM BeJobs WHERE BEJobID = @BEJobID

DELETE FROM Jobs WHERE BEJobID = @BeJobID