When performing the migration, some of the embedded images in the message did not get migrated to Exchange. Even with the RewriteRTF parameter option had been set to value 0 or 1, this embedded image in the message is still not migrated to Exchange.
Rich Text Format (RTF) extraction problem with Notes using Notes Migrator for Exchange.
Issue fixed in 188.8.131.52. The latest version of Notes Migrator for Exchange can be downlaoded at http://support.quest.com/Search/SearchDownloads.aspx