Configuration file was created by a VMware product with more features than this version

1.      Take backup copy of virtual machine.

2.      Locate file with extension .vmx and open it in a text editor:

Change from:

virtualHW.version = "8"

to

virtualHW.version = "7"

3.      Locate file with extension .vmdk and open it in a text editor:

Change from:

ddb.virtualHWVersion = "8"

to

ddb.virtualHWVersion = "7"

Now you can successfully boot the Virtual Machine.