Error Event ID 318 in W2k3 R2 Event Viewer/Application and SQLSERVERAGENT LOG: Unable to read local eventlog (reason: The parameter is incorrect)

I have MS Server 2003 R2 Standard running MS SQL 2005 Standard for an application called CityView Municipal software.  In the Windows Event Viewer -> Application log, it reports numerous Alert Engine Error Events: ID 318 for SQLSERVERAGENT.  When I look this up, it references issues with Dr. Watson which I don't find on the server.  Then when I examine the log files for alerts in SQL 2005 SQLSERVERAGENT, it is filled with: "[LOG] Unable to read local eventlog (reason: The parameter is incorrect)".  ANY assistance is greatly appreciated.  Thank you.
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