SharePoint 2010 managed accounts object reference not set to an instance of an object

I was going through the server Event log the other day and noticed the following error.

Then I went to SharePoint Central Administration, Security, Configure Managed accounts and the page displayed “Object reference not set to an instance of an object” error message.

Figure 1

Some users suggested to remove and recreate the manage account using PowerShell command Remove-SPManagedAccount. That doable, but I found a better solution that does not require to recreate the managed account here. First, I ran the PowerShell command Get-SPManagedAccount to find out the account that caused the problem. Then I used the PowerShell command from here to remedy the problem.

Figure 2

Learn more about service and managed service Accounts from here.