The use of SNMP traps for Event Notifier was added in RHEV 3.4, however there is no documentation on how to set this up or the infrastructure needs for this.
The setup is that RHEV will produce the SNMP traps, but the customer must have an SNMP manager already setup in their environment to receive the traps and then act accordingly.
The only reference to this is in the "What's New" section for 3.4 , and the SNMP fields are listed in the Admin Guide for section 18.2, but that is it. The upstream docs do show a brief setup overview and set the expectation that another system in the environment is acting as an SNMP manager .
*** This bug has been marked as a duplicate of bug 1075497 ***