1. Download and install the VMware OVF Tool. http://www.vmware.com/support/developer/ovf/. Download is a .tar.gz file from vmware.
2. Open terminal and extract the file
3. Launch VMware OVF Tool.pkg file. You may be prompted by Gatekeeper that the package is not signed. Go ahead and change settings to allow unsigned packages installation
4. Create a folder where you want to save the converted VMs - in the example below, I have folder "Converted"
5. You can now import the created OVF file into vSphere or a standalone ESXi server.