Here are the step by step of clearing the FMA faults on most of Oracle/Sun server. Work perfectly on Solaris 10:

Clear fmadm log, Example :
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For each fault listed in the ‘fmadm faulty’ run:
# fmadm repair <uuid>   (OR if the components are listed instead, e.g.:)
# fmadm repair 568a9180-7308-4535-92e6-a7c17ef1bfef

[Clear ereports and resource cache:
# cd /var/fm/fmd
# rm e* f* c*/eft/* r*/*

[Clearing out FMA files with no reboot needed:
svcadm disable -s svc:/system/fmd:default
cd /var/fm/fmd
find /var/fm/fmd -type f -exec ls {} \;
find /var/fm/fmd -type f -exec rm {} \;
svcadm enable svc:/system/fmd:default

[Reset the fmd serd modules:
# fmadm reset cpumem-diagnosis
# fmadm reset cpumem-retire
# fmadm reset eft
# fmadm reset io-retire