Undefined index field update

After setting the format of my flexslider content type, I receieve the following errors:

Notice: Undefined index: default_image in image_field_update_instance() (line 501 of C:\wamp\www\development\sandbox\modules\image\image.module).

Notice: Undefined index: default_image in image_field_update_instance() (line 505 of C:\wamp\www\development\sandbox\modules\image\image.module).