INSTALL @lib$+"TIMERLIB"

      Event% = FALSE

      timerID% = FN_ontimer(1000, PROCelapsed, 0)

      PRINT "Waiting for event..."
      REPEAT
        WAIT 0
      UNTIL Event%
      PRINT "Event signalled"
      END

      DEF PROCelapsed
      Event% = TRUE
      ENDPROC