import threading, time

class AlarmTimer(threading.Thread):
    def __init__(self, timeout, action):
        threading.Thread.__init__(self)
        self.setDaemon(True)
        self.timeout = timeout
        self.action = action
        self.cancelled = False
    def run(self):
        time.sleep(self.timeout)
        if not self.cancelled:
            self.action()
    def cancel(self):
        self.cancelled = True

def done():
    print "hi timeout"

AlarmTimer(1, done).start()
time.sleep(10)