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Event ID: 434 Source: CPQTeamMP

Source
Level
Description
HP Network Team #1: PROBLEM: A non-Primary Network Link is not receiving. Receive-path validation has been enabled for this Team by selecting the Enable receive-path validation Heartbeat Setting.
ACTION: Please check your cabling to the link partner. Check the switch port status including verifying that the switch port is not configured as a Switch-assist Channel. Generate Broadcast traffic on the network to test whether these are being received. Also make sure all teamed NICs are on the same broadcast domain. Run diagnostics to test card. Drop the NIC from the team determine whether it is receiving broadcast traffic in that configuration.
Comments
 
This event can occur when your NICs in your network team are connected to switch ports that are in different VLANS. The heartbeat for the team will not broadcast accross VLANS.

You need to logon to the switch and correct the VLAN mismatch.
I can confirm that enabling FastPort on a Cisco switch resolves this warning. See the link to "HP Forums ThreadId 816989" for more details on this event.

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