diff --git a/lib/vcap/concurrency/errors.rb b/lib/vcap/concurrency/errors.rb
new file mode 100644
index 0000000..7789353
--- /dev/null
+++ b/lib/vcap/concurrency/errors.rb
@@ -0,0 +1,7 @@
+module VCAP
+  module Concurrency
+    class Error        < StandardError; end
+    class TimeoutError < Error; end
+  end
+end
+
diff --git a/lib/vcap/concurrency/promise.rb b/lib/vcap/concurrency/promise.rb
index aa09894..3a64575 100644
--- a/lib/vcap/concurrency/promise.rb
+++ b/lib/vcap/concurrency/promise.rb
@@ -1,5 +1,7 @@
 require "thread"
 
+require "vcap/concurrency/errors"
+
 module VCAP
   module Concurrency
   end
@@ -62,10 +64,22 @@ def fail(exception)
   # NB: If the promise failed to be fulfilled, the error that occurred while
   #     fulfilling it will be raised here.
   #
+  # @param [Integer] timeout_secs  If supplied, wait for no longer than this
+  # value before proceeding. An exception will be raised if the promise hasn't
+  # been fulfilled when the timeout occurs.
+  #
+  # @raise [VCAP::Concurrency::TimeoutError]  Raised if the promise hasn't been
+  # fulfilled after +timeout_secs+ seconds since calling resolve().
+  #
   # @return [Object]  The result of the associated computation.
-  def resolve
+  def resolve(timeout_secs = nil)
     @lock.synchronize do
-      @cond.wait(@lock) unless @done
+      @cond.wait(@lock, timeout_secs) unless @done
+
+      if !@done
+        emsg = "Timed out waiting on result after #{timeout_secs}s."
+        raise VCAP::Concurrency::TimeoutError.new(emsg)
+      end
 
       if @error
         raise @error
diff --git a/lib/vcap/concurrency/version.rb b/lib/vcap/concurrency/version.rb
index 95f8948..6559ed9 100644
--- a/lib/vcap/concurrency/version.rb
+++ b/lib/vcap/concurrency/version.rb
@@ -1,5 +1,5 @@
 module VCAP
   module Concurrency
-    VERSION = "0.0.1"
+    VERSION = "0.1.0"
   end
 end
diff --git a/spec/promise_spec.rb b/spec/promise_spec.rb
index ae7bc76..060fc34 100644
--- a/spec/promise_spec.rb
+++ b/spec/promise_spec.rb
@@ -1,15 +1,15 @@
 require "spec_helper"
 
 describe VCAP::Concurrency::Promise do
+  let(:promise) { VCAP::Concurrency::Promise.new }
+
   describe "#deliver " do
     it "should deliver the supplied result to callers of resolve" do
-      promise = VCAP::Concurrency::Promise.new
       promise.deliver(:done)
       promise.resolve.should == :done
     end
 
     it "should raise an error if called more than once" do
-      promise = VCAP::Concurrency::Promise.new
       promise.deliver
       expect do
         promise.deliver
@@ -17,7 +17,6 @@
     end
 
     it "should wake up all threads that are resolving it" do
-      promise = VCAP::Concurrency::Promise.new
       lock = Mutex.new
       cond = ConditionVariable.new
       waiting = 0
@@ -52,7 +51,6 @@
 
   describe "#fail" do
     it "should deliver the supplied exception to callers of resolve" do
-      promise = VCAP::Concurrency::Promise.new
       error_text = "test error"
       promise.fail(RuntimeError.new(error_text))
       expect do
@@ -61,7 +59,6 @@
     end
 
     it "should raise an error if called more than once" do
-      promise = VCAP::Concurrency::Promise.new
       e = RuntimeError.new("test")
       promise.fail(e)
       expect do
@@ -69,4 +66,18 @@
       end.to raise_error(/completed once/)
     end
   end
+
+  describe "#resolve" do
+    it "should raise an error when a timeout occurs" do
+      start = Time.now
+
+      expect do
+        promise.resolve(0.5)
+      end.to raise_error(VCAP::Concurrency::TimeoutError)
+
+      elapsed = Time.now - start
+
+      elapsed.should be_within(1).of(0.5)
+    end
+  end
 end