Clockwork is a simple application that allows you to set alarms and timers very easily. The application is very small and easy to use. You can create as many alarms and stopwatches as you want and assign them a specific name for you to remember them. For any event, you can customize alarm actions, such as alert, alert with sound, alert with repeat sound, and flash screen. You can also show tenth of seconds and add repetition to the events.
A good thing is that the clock will continue running silently in the background even if you close the application, so there's no need to keep it open. The application offers three view modes: a mini timer, multiple timers, and full screen. I particularly like the mini timer because its size is perfect to have it on the desktop and the multi timers view is great if you have multiple timers running and you wish to see them all. Unfortunately, the appearance isn't very attractive and it offers no customization options. Sadly, the price is a bit high for the limited uses of the program.
In short, I really think that the price is too high for what the application has to offer and I'm sure you can find many free applications with the same features or even more.