gistfile1.txt

var handleException = new Action<Exception>(e =>
{
    Console.WriteLine("Handle Exception: " + e);
});

var someCodeThatThrowsAnException = new Action(() =>
{
    try
    {
        throw new Exception("I threw an Exception!");
    }
    catch (Exception e)
    {
        handleException(e);
    }
});

var result = someCodeThatThrowsAnException.BeginInvoke(null, null);
if (result.AsyncWaitHandle.WaitOne(2000))
{
    // Timeout Expired
    someCodeThatThrowsAnException.EndInvoke(result);
}