Archive task fails

EV 11.0.1 with exchange 2013. Archive task getting fail again and again for some exchange servers. Checked system mailbox is ok and Service account have required permission on exchange. 

Getting below error message in Dtrace

924         14:35:08.778       [39412]                (ArchiveTask)    <41420>               EV:                {CMailboxHelper::CreateProfileAndSessionEx} (Exit) Status: [The parameter is incorrect.  (0x80070057)]

925         14:35:08.778       [39412]                (ArchiveTask)    <41420>               EV:                {CMailboxHelper::CreateProfileAndSessionAndOpenMailbox:#1055} Failed to create profile and session for server

926         14:35:08.778       [39412]                (ArchiveTask)    <41420>               EV:                {CMailboxHelper::CreateProfileAndSessionAndOpenMailbox:#1056} Error being returned : 0x80070057

927         14:35:08.778       [39412]                (ArchiveTask)    <41420>               EV:               {CEVMAPILieModeLock::ReleaseExclusiveLock:#66} Trying to release lock

928         14:35:08.778       [39412]                (ArchiveTask)    <41420>               EV:                {CEVMAPILieModeLock::ReleaseExclusiveLock:#70} Released lock.

929         14:35:08.778       [39412]                (ArchiveTask)    <41420>               EV:      {CMAPISession::CreateMapiSession} (Exit) Status: [The parameter is incorrect.  (0x80070057)]

930         14:35:08.778       [39412]                (ArchiveTask)    <41420>               EV:       {CMAPISession::ClearProfileCache} (Entry)

931         14:35:08.778       [39412]                (ArchiveTask)    <41420>               EV:       {CMAPISession::CloseMapiSession} (Entry)

932         14:35:08.778       [39412]                (ArchiveTask)    <41420>               EV:      {CMAPISession::CloseMapiSession:#85} Releasing managed store (IExchangeManageStore): [False]

933         14:35:08.778       [39412]                (ArchiveTask)    <41420>               EV:       {CMAPISession::CloseMapiSession:#91} Releasing message store (IMsgStore): [False]

934         14:35:08.778       [39412]                (ArchiveTask)    <41420>               EV:       {CMAPISession::CloseMapiSession} (Exit)

935         14:35:08.778       [39412]                (ArchiveTask)    <41420>               EV:       {CMAPISession::ClearProfileCache} (Exit)

936         14:35:08.778       [39412]                (ArchiveTask)    <41420>               EV:               {CMAPISession::GetMapiSessionFromPoolEx} (Exit) Status: [The parameter is incorrect.  (0x80070057)]

937         14:35:08.778       [39412]                (ArchiveTask)    <41420>               EV:      {CAgentTask::Initialise:#1366} Failed to open privileged MAPI session: [0x80070057]. Aborting agent startup.

938         14:35:08.778       [39412]                (ArchiveTask)    <41420>               EV:     {IsCurrentUserADomainAdmin:#4649} User is domain admin: [False]

939         14:35:08.778       [39412]                (ArchiveTask)    <41420>               EV:               {CExchangeVersion::IsExchange2013orAbove:#214} Exchange 2013 or greater: [True]

940         14:35:08.794       [39412]                (ArchiveTask)    <41420>               EV~      Event ID: 3460 The Task 'Exchange Mailbox Archiving Task' failed to log on to Exchange server  using mailbox 'SMTP:'. Check that the mailbox has not been hidden, that the server is running and that the vault service account has sufficient permissions on the server. |Enterprise Vault used the following settings for the Outlook Anywhere connection to Exchange 2013 or later: |   Proxy server: '' |   Requires SSL: 'True' |   Certificate principal: '' |If these settings are correct, check that the servers are responding. |Note that Enterprise Vault auto-discovers the proxy server and certificate principal unless you have configured them explicitly in the target domain's properties in the Administration Console, in which case you should check the settings you have made. |For more information, see Help and Support Center at http://telemetry.community.veritas.com/entt?product=ev&language=english&version=12.1.0.0&build=12.1.0.1424&error=V-437-3460

Already checked couple of EV blogs without any success.