Backward Compatibility and the .NET Framework 4
The .NET Framework 4 is backward-compatible with applications that were built with the .NET Framework versions 1.1, 2.0, 3.0, and 3.5. In other words, applications and components built with previous versions of the .NET Framework will work on the .NET Framework 4.
However, in practice, this compatibility can be broken by seemingly inconsequential changes in the .NET Framework and changes in programming techniques. For example, performance improvements in the .NET Framework 4 can expose a race condition that did not occur on earlier versions. Similarly, using a hard-coded path to .NET Framework assemblies, performing an equality comparison with a particular version of the .NET Framework, and getting the value of a private field by using reflection are not backward-compatible practices. In addition, each version of the .NET Framework includes bug fixes and security-related changes that can affect the compatibility of some applications and components.
You should test your .NET Framework applications and components to ensure that they are compatible with other versions of the .NET Framework. To ensure that an application or component successfully runs on the .NET Framework 4, use the .NET Framework 4 Application Compatibility Walkthrough.