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procedure TForm1.Button1Click(Sender: TObject); // Timer1
var
AlarmTimer : THandle;
Zeit : Large_Integer;
begin
Label1.Caption:='Running...';
AlarmTimer := CreateWaitableTimer(nil, False, nil);
CancelWaitableTimer(AlarmTimer);
Zeit.QuadPart := 10 * (-10000000); // 10 Sekunden-Test
SetWaitableTimer(AlarmTimer, Zeit.Quadpart, 0, nil, nil, False);
while WaitForSingleObject(AlarmTimer, 20) <> Wait_Object_0 do // Beispiel: 20msec
begin
  Application.ProcessMessages;
end;
Label1.Caption:='Ready';
end;

procedure TForm1.Button2Click(Sender: TObject); // Timer2
var
AlarmTimer : THandle;
Zeit : Large_Integer;
begin
Label2.Caption:='Running...'; Application.ProcessMessages;
AlarmTimer := CreateWaitableTimer(nil, False, nil);
CancelWaitableTimer(AlarmTimer);
Zeit.QuadPart := 30 * (-10000000); // 30 Sekunden-Test
SetWaitableTimer(AlarmTimer, Zeit.Quadpart, 0, nil, nil, False);
while WaitForSingleObject(AlarmTimer, INFINITE) <> Wait_Object_0 do
begin
  Application.ProcessMessages; // ACHTUNG - Programm tut NICHTS!!!
end;
Label2.Caption:='Ready';
end;					

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sleep(1000); //1 sek "sleepen"