'Error: Did not finish. The operation has timed out.' when processing e-mail alerts

When processing e-mail alerts, a user may receive 'Error: Did not finish.  The operation has timed out.'.  The error is received at exactly 2 minutes.   
Download and install the latest patch, which contains all fixes from previous patches. If you are running an older version, download and install the latest version and then the patch. 

Environment

 2.94.1524.74
 2.94.1524, patch 83 ; 3.0.516, Service Pack 4

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