Exception occurred during code generation for the WSDL java.lang.NullPointerException

Want to generate Web Service skeletons using Eclipse and Axis2 (v1.6.2)?
Don't use extra folder levels relative to Eclipse workspace folder - it's not going to work.

OK
Eclipse_workspace\Eclipse_project_folder...

ERROR
Eclipse_workspace\ONE_MORE_FOLDER_BREAK_AXIS2\Eclipse_project_folder...

Exception occurred during code generation for the WSDL  : null
    java.lang.NullPointerException

    at org.eclipse.jst.ws.axis2.core.utils.ClassLoadingUtil.getAxis2Libs(ClassLoadingUtil.java:97)
    at org.eclipse.jst.ws.axis2.core.utils.ClassLoadingUtil.init(ClassLoadingUtil.java:50)
    at org.eclipse.jst.ws.axis2.creation.core.command.Axis2WSDL2JavaCommand.execute(Axis2WSDL2JavaCommand.java:105)
    at org.eclipse.wst.command.internal.env.core.fragment.CommandFragmentEngine.runCommand(CommandFragmentEngine.java:419)
    at org.eclipse.wst.command.internal.env.core.fragment.CommandFragmentEngine.visitTop(CommandFragmentEngine.java:359)
    at org.eclipse.wst.command.internal.env.core.fragment.CommandFragmentEngine.moveForwardToNextStop(CommandFragmentEngine.java:254)
    at org.eclipse.wst.command.internal.env.ui.widgets.SimpleCommandEngineManager$6.run(SimpleCommandEngineManager.java:294)
    at org.eclipse.jface.operation.ModalContext.runInCurrentThread(ModalContext.java:466)
    at org.eclipse.jface.operation.ModalContext.run(ModalContext.java:374)
    at org.eclipse.jface.wizard.WizardDialog.run(WizardDialog.java:1059)
    at org.eclipse.wst.command.internal.env.ui.widgets.SimpleCommandEngineManager.runForwardToNextStop(SimpleCommandEngineManager.java:264)
    at org.eclipse.wst.command.internal.env.ui.widgets.WizardPageManager.runForwardToNextStop(WizardPageManager.java:91)
    at org.eclipse.wst.command.internal.env.ui.widgets.WizardPageManager.getNextPage(WizardPageManager.java:154)
    at org.eclipse.wst.command.internal.env.ui.widgets.SimpleWizardPage.getNextPage(SimpleWizardPage.java:136)
    at org.eclipse.jface.wizard.WizardDialog.nextPressed(WizardDialog.java:935)
    at org.eclipse.jface.wizard.WizardDialog.buttonPressed(WizardDialog.java:434)
    at org.eclipse.jface.dialogs.Dialog$2.widgetSelected(Dialog.java:619)
    at org.eclipse.swt.widgets.TypedListener.handleEvent(TypedListener.java:248)
    at org.eclipse.swt.widgets.EventTable.sendEvent(EventTable.java:84)
    at org.eclipse.swt.widgets.Display.sendEvent(Display.java:4454)
    at org.eclipse.swt.widgets.Widget.sendEvent(Widget.java:1388)
    at org.eclipse.swt.widgets.Display.runDeferredEvents(Display.java:3799)
    at org.eclipse.swt.widgets.Display.readAndDispatch(Display.java:3409)
    at org.eclipse.jface.window.Window.runEventLoop(Window.java:832)
    at org.eclipse.jface.window.Window.open(Window.java:808)
    at org.eclipse.wst.command.internal.env.ui.widgets.popup.DynamicPopupWizard.run(DynamicPopupWizard.java:130)
    at org.eclipse.ui.internal.PluginAction.runWithEvent(PluginAction.java:253)
    at org.eclipse.jface.action.ActionContributionItem.handleWidgetSelection(ActionContributionItem.java:595)
    at org.eclipse.jface.action.ActionContributionItem.access$2(ActionContributionItem.java:511)
    at org.eclipse.jface.action.ActionContributionItem$5.handleEvent(ActionContributionItem.java:420)
    at org.eclipse.swt.widgets.EventTable.sendEvent(EventTable.java:84)
    at org.eclipse.swt.widgets.Display.sendEvent(Display.java:4454)
    at org.eclipse.swt.widgets.Widget.sendEvent(Widget.java:1388)
    at org.eclipse.swt.widgets.Display.runDeferredEvents(Display.java:3799)
    at org.eclipse.swt.widgets.Display.readAndDispatch(Display.java:3409)
    at org.eclipse.e4.ui.internal.workbench.swt.PartRenderingEngine$9.run(PartRenderingEngine.java:1151)
    at org.eclipse.core.databinding.observable.Realm.runWithDefault(Realm.java:332)
    at org.eclipse.e4.ui.internal.workbench.swt.PartRenderingEngine.run(PartRenderingEngine.java:1032)
    at org.eclipse.e4.ui.internal.workbench.E4Workbench.createAndRunUI(E4Workbench.java:148)
    at org.eclipse.ui.internal.Workbench$5.run(Workbench.java:636)
    at org.eclipse.core.databinding.observable.Realm.runWithDefault(Realm.java:332)
    at org.eclipse.ui.internal.Workbench.createAndRunWorkbench(Workbench.java:579)
    at org.eclipse.ui.PlatformUI.createAndRunWorkbench(PlatformUI.java:150)
    at org.eclipse.ui.internal.ide.application.IDEApplication.start(IDEApplication.java:135)
    at org.eclipse.equinox.internal.app.EclipseAppHandle.run(EclipseAppHandle.java:196)
    at org.eclipse.core.runtime.internal.adaptor.EclipseAppLauncher.runApplication(EclipseAppLauncher.java:134)
    at org.eclipse.core.runtime.internal.adaptor.EclipseAppLauncher.start(EclipseAppLauncher.java:104)
    at org.eclipse.core.runtime.adaptor.EclipseStarter.run(EclipseStarter.java:380)
    at org.eclipse.core.runtime.adaptor.EclipseStarter.run(EclipseStarter.java:235)
    at sun.reflect.NativeMethodAccessorImpl.invoke0(Native Method)
    at sun.reflect.NativeMethodAccessorImpl.invoke(NativeMethodAccessorImpl.java:57)
    at sun.reflect.DelegatingMethodAccessorImpl.invoke(DelegatingMethodAccessorImpl.java:43)
    at java.lang.reflect.Method.invoke(Method.java:606)
    at org.eclipse.equinox.launcher.Main.invokeFramework(Main.java:648)
    at org.eclipse.equinox.launcher.Main.basicRun(Main.java:603)
    at org.eclipse.equinox.launcher.Main.run(Main.java:1465)
    at org.eclipse.equinox.launcher.Main.main(Main.java:1438)