MSCRMAsync error in Event Viewer

Lately I encountered another interesting error during CRM implementaion. After installing Update Rollup 4, I noticed MSCRMAsync Service in the Event Viewer throwing an error at regular intervals.

Google looked around the world wide web and brought to me that .Net Framework 3.0 SP1 was missing. I downloaded and before it could finish installation, it threw another error and took everything down (including SQL Server 2005). I un-installed Update Rollup 4 for CRM, .Net Framework 3.0 and .Net Framework 2.0. Re-installed them again in this manner

• .Net Framework 2.0
• .Net Framework 2.0 SP1
• .Net Framework 3.0 &
• .Net Framework 3.0 SP1
• Update Rollup 4

after which everything seem'd to be perfect. Event viewer was error spotless.

If you've received a similar error but had a different solution, I'm sure you want to share it as a comment.