How to configure socket connect timeout

I found this. Simpler than the accepted answer, and works with .NET Framework v2

Socket socket = new Socket(AddressFamily.InterNetwork, SocketType.Stream, ProtocolType.Tcp);

// Connect using a timeout (5 seconds)

IAsyncResult result = socket.BeginConnect( sIP, iPort, null, null );

bool success = result.AsyncWaitHandle.WaitOne( 5000, true );

if ( socket.Connected )
{
    socket.EndConnect( result );
}
else 
{
     // NOTE, MUST CLOSE THE SOCKET

     socket.Close();
     throw new ApplicationException("Failed to connect server.");
}
 
//...