After some research, I found that this was due to the fact that the upgrade script of the Guest Additions was confused by the fact that there were many VBoxGuestAdditions-4.XXX under /opt and it failed to pick up the most recent one in order to create the symbolic link under /usr/lib.
So, in order to solve the issue, you have to manually create symbolic link using the command :
sudo ln -s /opt/VBoxGuestAdditions-4.3.10/lib/VBoxGuestAdditions /usr/lib/.
In the above, "4.3.10" is the latest version of the Guest Additions I installed. Replace it with the correct version in your case (list all the directories under /opt and pickup the latest one starting by VBoxGuestAdditions).