Index: /trunk/src/VBox/Main/src-server/MachineImplCloneVM.cpp
===================================================================
--- /trunk/src/VBox/Main/src-server/MachineImplCloneVM.cpp	(revision 38057)
+++ /trunk/src/VBox/Main/src-server/MachineImplCloneVM.cpp	(revision 38058)
@@ -799,5 +799,5 @@
                         if (   !bstrSrcPath.isEmpty()
                             &&  RTPathStartsWith(Utf8Str(bstrSrcPath).c_str(), Utf8Str(bstrSrcSnapshotFolder).c_str())
-                            && !(fKeepDiskNames || mt.strBaseName.isEmpty()))
+                            && !(!fKeepDiskNames && !mt.strBaseName.isEmpty()))
                             strFile = Utf8StrFmt("%s%c%s", strTrgSnapshotFolder.c_str(), RTPATH_DELIMITER, strNewName.c_str());