The issue occurs because a newer version of the Visual C++ 2010 Redistributable is present on the computer. The June 2010 DirectX SDK installs version 10.0.30319 of the Visual C++ Redistributable.
1. Uninstall Microsoft Visual C++ 2010 x86 & x64 Redistributable.
2. Install the June 2010 DirectX SDK.
3. Reinstall the most current version of the Visual C++ 2010 Redistributable Package.