diff --git a/Source/Core/AudioCommon/AOSoundStream.h b/Source/Core/AudioCommon/AOSoundStream.h
index 5900a8c8b5..8d8cc5203e 100644
--- a/Source/Core/AudioCommon/AOSoundStream.h
+++ b/Source/Core/AudioCommon/AOSoundStream.h
@@ -5,7 +5,9 @@
 #pragma once
 
 #include "AudioCommon/SoundStream.h"
-#include "Common/Thread.h"
+#include "Common/Event.h"
+#include "Common/StdMutex.h"
+#include "Common/StdThread.h"
 
 #if defined(HAVE_AO) && HAVE_AO
 #include <ao/ao.h>
diff --git a/Source/Core/AudioCommon/DSoundStream.cpp b/Source/Core/AudioCommon/DSoundStream.cpp
index 2ffbe9794b..df96a9551f 100644
--- a/Source/Core/AudioCommon/DSoundStream.cpp
+++ b/Source/Core/AudioCommon/DSoundStream.cpp
@@ -9,6 +9,8 @@
 
 #include "AudioCommon/AudioCommon.h"
 #include "AudioCommon/DSoundStream.h"
+#include "Common/StdThread.h"
+#include "Common/Thread.h"
 
 bool DSound::CreateBuffer()
 {
diff --git a/Source/Core/AudioCommon/DSoundStream.h b/Source/Core/AudioCommon/DSoundStream.h
index 331c4581d3..d885a17664 100644
--- a/Source/Core/AudioCommon/DSoundStream.h
+++ b/Source/Core/AudioCommon/DSoundStream.h
@@ -5,7 +5,8 @@
 #pragma once
 
 #include "AudioCommon/SoundStream.h"
-#include "Common/Thread.h"
+#include "Common/Event.h"
+#include "Common/StdThread.h"
 
 #ifdef _WIN32
 #include <Windows.h>
diff --git a/Source/Core/AudioCommon/OpenALStream.cpp b/Source/Core/AudioCommon/OpenALStream.cpp
index b2f820c453..1c1a802528 100644
--- a/Source/Core/AudioCommon/OpenALStream.cpp
+++ b/Source/Core/AudioCommon/OpenALStream.cpp
@@ -5,6 +5,8 @@
 #include "AudioCommon/aldlist.h"
 #include "AudioCommon/DPL2Decoder.h"
 #include "AudioCommon/OpenALStream.h"
+#include "Common/StdThread.h"
+#include "Common/Thread.h"
 
 #if defined HAVE_OPENAL && HAVE_OPENAL
 
diff --git a/Source/Core/AudioCommon/OpenALStream.h b/Source/Core/AudioCommon/OpenALStream.h
index 0c3f932a38..940bb090f4 100644
--- a/Source/Core/AudioCommon/OpenALStream.h
+++ b/Source/Core/AudioCommon/OpenALStream.h
@@ -5,7 +5,8 @@
 #pragma once
 
 #include "AudioCommon/SoundStream.h"
-#include "Common/Thread.h"
+#include "Common/Event.h"
+#include "Common/StdThread.h"
 #include "Core/Core.h"
 #include "Core/HW/AudioInterface.h"
 #include "Core/HW/SystemTimers.h"
diff --git a/Source/Core/AudioCommon/OpenSLESStream.h b/Source/Core/AudioCommon/OpenSLESStream.h
index 08deec6eb1..9ba190728d 100644
--- a/Source/Core/AudioCommon/OpenSLESStream.h
+++ b/Source/Core/AudioCommon/OpenSLESStream.h
@@ -5,7 +5,8 @@
 #pragma once
 
 #include "AudioCommon/SoundStream.h"
-#include "Common/Thread.h"
+#include "Common/Event.h"
+#include "Common/StdThread.h"
 
 class OpenSLESStream final : public SoundStream
 {
diff --git a/Source/Core/AudioCommon/XAudio2Stream.cpp b/Source/Core/AudioCommon/XAudio2Stream.cpp
index d5964f0e0e..81af045300 100644
--- a/Source/Core/AudioCommon/XAudio2Stream.cpp
+++ b/Source/Core/AudioCommon/XAudio2Stream.cpp
@@ -5,6 +5,7 @@
 #include <xaudio2.h>
 #include "AudioCommon/AudioCommon.h"
 #include "AudioCommon/XAudio2Stream.h"
+#include "Common/Event.h"
 
 #ifndef XAUDIO2_DLL
 #error You are building this module against the wrong version of DirectX. You probably need to remove DXSDK_DIR from your include path.
diff --git a/Source/Core/AudioCommon/XAudio2Stream.h b/Source/Core/AudioCommon/XAudio2Stream.h
index be76d919e8..9083abdc3b 100644
--- a/Source/Core/AudioCommon/XAudio2Stream.h
+++ b/Source/Core/AudioCommon/XAudio2Stream.h
@@ -11,7 +11,7 @@
 #include <memory>
 
 #include "AudioCommon/SoundStream.h"
-#include "Common/Thread.h"
+#include "Common/Event.h"
 
 #ifdef _WIN32
 
diff --git a/Source/Core/AudioCommon/XAudio2_7Stream.cpp b/Source/Core/AudioCommon/XAudio2_7Stream.cpp
index 816d83d47b..8739e919f5 100644
--- a/Source/Core/AudioCommon/XAudio2_7Stream.cpp
+++ b/Source/Core/AudioCommon/XAudio2_7Stream.cpp
@@ -9,6 +9,7 @@
 
 #include "AudioCommon/AudioCommon.h"
 #include "AudioCommon/XAudio2_7Stream.h"
+#include "Common/Event.h"
 
 #ifdef HAVE_DXSDK
 #include <dxsdkver.h>
diff --git a/Source/Core/AudioCommon/XAudio2_7Stream.h b/Source/Core/AudioCommon/XAudio2_7Stream.h
index e1e3182be9..99c0ca690f 100644
--- a/Source/Core/AudioCommon/XAudio2_7Stream.h
+++ b/Source/Core/AudioCommon/XAudio2_7Stream.h
@@ -14,7 +14,7 @@
 
 #include <memory>
 #include "AudioCommon/SoundStream.h"
-#include "Common/Thread.h"
+#include "Common/Event.h"
 
 #ifdef _WIN32
 
diff --git a/Source/Core/Common/Event.h b/Source/Core/Common/Event.h
new file mode 100644
index 0000000000..b60a7cacd3
--- /dev/null
+++ b/Source/Core/Common/Event.h
@@ -0,0 +1,76 @@
+// Copyright 2014 Dolphin Emulator Project
+// Licensed under GPLv2
+// Refer to the license.txt file included.
+
+// Multithreaded event class. This allows waiting in a thread for an event to
+// be triggered in another thread. While waiting, the CPU will be available for
+// other tasks.
+// * Set(): triggers the event and wakes up the waiting thread.
+// * Wait(): waits for the event to be triggered.
+// * Reset(): tries to reset the event before the waiting thread sees it was
+//            triggered. Usually a bad idea.
+
+#pragma once
+
+#ifdef _WIN32
+#include <concrt.h>
+#endif
+
+#include "Common/Flag.h"
+#include "Common/StdConditionVariable.h"
+#include "Common/StdMutex.h"
+
+namespace Common {
+
+// Windows uses a specific implementation because std::condition_variable has
+// terrible performance for this kind of workload with MSVC++ 2013.
+#ifndef _WIN32
+class Event final
+{
+public:
+	void Set()
+	{
+		if (m_flag.TestAndSet())
+		{
+			std::lock_guard<std::mutex> lk(m_mutex);
+			m_condvar.notify_one();
+		}
+	}
+
+	void Wait()
+	{
+		if (m_flag.TestAndClear())
+			return;
+
+		std::unique_lock<std::mutex> lk(m_mutex);
+		m_condvar.wait(lk, [&]{ return m_flag.IsSet(); });
+		m_flag.Clear();
+	}
+
+	void Reset()
+	{
+		// no other action required, since wait loops on
+		// the predicate and any lingering signal will get
+		// cleared on the first iteration
+		m_flag.Clear();
+	}
+
+private:
+	Flag m_flag;
+	std::condition_variable m_condvar;
+	std::mutex m_mutex;
+};
+#else
+class Event final
+{
+public:
+	void Set() { m_event.set(); }
+	void Wait() { m_event.wait(); m_event.reset(); }
+	void Reset() { m_event.reset(); }
+
+private:
+	concurrency::event m_event;
+};
+#endif
+
+}  // namespace Common
diff --git a/Source/Core/Common/Flag.h b/Source/Core/Common/Flag.h
new file mode 100644
index 0000000000..89b61c7805
--- /dev/null
+++ b/Source/Core/Common/Flag.h
@@ -0,0 +1,66 @@
+// Copyright 2014 Dolphin Emulator Project
+// Licensed under GPLv2
+// Refer to the license.txt file included.
+
+// Abstraction for a simple flag that can be toggled in a multithreaded way.
+//
+// Simple API:
+// * Set(bool = true): sets the Flag
+// * IsSet(): tests if the flag is set
+// * Clear(): clears the flag (equivalent to Set(false)).
+//
+// More advanced features:
+// * TestAndSet(bool = true): sets the flag to the given value. If a change was
+//                            needed (the flag did not already have this value)
+//                            the function returns true. Else, false.
+// * TestAndClear(): alias for TestAndSet(false).
+
+#pragma once
+
+#include <atomic>
+
+namespace Common {
+
+class Flag final
+{
+public:
+	// Declared as explicit since we do not want "= true" to work on a flag
+	// object - it should be made explicit that a flag is *not* a normal
+	// variable.
+	explicit Flag(bool initial_value = false) : m_val(initial_value) {}
+
+	void Set(bool val = true)
+	{
+		m_val.store(val);
+	}
+
+	void Clear()
+	{
+		Set(false);
+	}
+
+	bool IsSet() const
+	{
+		return m_val.load();
+	}
+
+	bool TestAndSet(bool val = true)
+	{
+		bool expected = !val;
+		return m_val.compare_exchange_strong(expected, val);
+	}
+
+	bool TestAndClear()
+	{
+		return TestAndSet(false);
+	}
+
+private:
+	// We are not using std::atomic_bool here because MSVC sucks as of VC++
+	// 2013 and does not implement the std::atomic_bool(bool) constructor.
+	//
+	// Re-evaluate next time we upgrade that piece of shit.
+	std::atomic<bool> m_val;
+};
+
+}  // namespace Common
diff --git a/Source/Core/Common/Thread.h b/Source/Core/Common/Thread.h
index d108359dcd..54045caf26 100644
--- a/Source/Core/Common/Thread.h
+++ b/Source/Core/Common/Thread.h
@@ -32,45 +32,6 @@ int CurrentThreadId();
 void SetThreadAffinity(std::thread::native_handle_type thread, u32 mask);
 void SetCurrentThreadAffinity(u32 mask);
 
-class Event
-{
-public:
-	Event()
-		: is_set(false)
-	{}
-
-	void Set()
-	{
-		std::lock_guard<std::mutex> lk(m_mutex);
-		if (!is_set)
-		{
-			is_set = true;
-			m_condvar.notify_one();
-		}
-	}
-
-	void Wait()
-	{
-		std::unique_lock<std::mutex> lk(m_mutex);
-		m_condvar.wait(lk, [&]{ return is_set; });
-		is_set = false;
-	}
-
-	void Reset()
-	{
-		std::unique_lock<std::mutex> lk(m_mutex);
-		// no other action required, since wait loops on
-		// the predicate and any lingering signal will get
-		// cleared on the first iteration
-		is_set = false;
-	}
-
-private:
-	volatile bool is_set;
-	std::condition_variable m_condvar;
-	std::mutex m_mutex;
-};
-
 // TODO: doesn't work on windows with (count > 2)
 class Barrier
 {
diff --git a/Source/Core/Core/DSP/DSPCore.cpp b/Source/Core/Core/DSP/DSPCore.cpp
index 520db9ac49..45063d4d47 100644
--- a/Source/Core/Core/DSP/DSPCore.cpp
+++ b/Source/Core/Core/DSP/DSPCore.cpp
@@ -24,10 +24,10 @@
    ====================================================================*/
 
 #include "Common/Common.h"
+#include "Common/Event.h"
 #include "Common/FileUtil.h"
 #include "Common/Hash.h"
 #include "Common/MemoryUtil.h"
-#include "Common/Thread.h"
 
 #include "Core/DSP/DSPAnalyzer.h"
 #include "Core/DSP/DSPCore.h"
diff --git a/Source/Core/Core/HW/CPU.cpp b/Source/Core/Core/HW/CPU.cpp
index 613974b675..820617eb33 100644
--- a/Source/Core/Core/HW/CPU.cpp
+++ b/Source/Core/Core/HW/CPU.cpp
@@ -5,7 +5,8 @@
 #include "AudioCommon/AudioCommon.h"
 
 #include "Common/Common.h"
-#include "Common/Thread.h"
+#include "Common/Event.h"
+#include "Common/StdMutex.h"
 
 #include "Core/Core.h"
 #include "Core/DSPEmulator.h"
diff --git a/Source/Core/Core/HW/DSPLLE/DSPLLE.cpp b/Source/Core/Core/HW/DSPLLE/DSPLLE.cpp
index 697e69586d..8ada666527 100644
--- a/Source/Core/Core/HW/DSPLLE/DSPLLE.cpp
+++ b/Source/Core/Core/HW/DSPLLE/DSPLLE.cpp
@@ -7,9 +7,11 @@
 #include "Common/Common.h"
 #include "Common/CommonPaths.h"
 #include "Common/CPUDetect.h"
+#include "Common/Event.h"
 #include "Common/IniFile.h"
 #include "Common/LogManager.h"
-#include "Common/Thread.h"
+#include "Common/StdMutex.h"
+#include "Common/StdThread.h"
 
 #include "Core/ConfigManager.h"
 #include "Core/Core.h"
diff --git a/Source/Core/Core/State.cpp b/Source/Core/Core/State.cpp
index 6d16cef7c5..f0060a4c70 100644
--- a/Source/Core/Core/State.cpp
+++ b/Source/Core/Core/State.cpp
@@ -5,8 +5,10 @@
 #include <lzo/lzo1x.h>
 
 #include "Common/Common.h"
+#include "Common/Event.h"
+#include "Common/StdMutex.h"
+#include "Common/StdThread.h"
 #include "Common/StringUtil.h"
-#include "Common/Thread.h"
 #include "Common/Timer.h"
 
 #include "Core/ConfigManager.h"
diff --git a/Source/Core/DolphinWX/Debugger/CodeWindow.h b/Source/Core/DolphinWX/Debugger/CodeWindow.h
index 90ddff938c..74977026ff 100644
--- a/Source/Core/DolphinWX/Debugger/CodeWindow.h
+++ b/Source/Core/DolphinWX/Debugger/CodeWindow.h
@@ -14,7 +14,7 @@
 #include <wx/windowid.h>
 
 #include "Common/CommonTypes.h"
-#include "Common/Thread.h"
+#include "Common/Event.h"
 #include "DolphinWX/Globals.h"
 
 class CFrame;
diff --git a/Source/Core/DolphinWX/Frame.h b/Source/Core/DolphinWX/Frame.h
index 8f7e0732c7..2c98fda566 100644
--- a/Source/Core/DolphinWX/Frame.h
+++ b/Source/Core/DolphinWX/Frame.h
@@ -22,7 +22,7 @@
 #include <wx/windowid.h>
 
 #include "Common/CommonTypes.h"
-#include "Common/Thread.h"
+#include "Common/Event.h"
 #include "DolphinWX/Globals.h"
 #include "InputCommon/GCPadStatus.h"
 
diff --git a/Source/Core/DolphinWX/MainAndroid.cpp b/Source/Core/DolphinWX/MainAndroid.cpp
index 4ce8ce0710..ab82e7def1 100644
--- a/Source/Core/DolphinWX/MainAndroid.cpp
+++ b/Source/Core/DolphinWX/MainAndroid.cpp
@@ -27,9 +27,9 @@
 #include "Common/Common.h"
 #include "Common/CommonPaths.h"
 #include "Common/CPUDetect.h"
+#include "Common/Event.h"
 #include "Common/FileUtil.h"
 #include "Common/LogManager.h"
-#include "Common/Thread.h"
 #include "Core/BootManager.h"
 #include "Core/ConfigManager.h"
 #include "Core/Core.h"
diff --git a/Source/Core/DolphinWX/MainNoGUI.cpp b/Source/Core/DolphinWX/MainNoGUI.cpp
index c8f57f9ef6..cfd176e27a 100644
--- a/Source/Core/DolphinWX/MainNoGUI.cpp
+++ b/Source/Core/DolphinWX/MainNoGUI.cpp
@@ -10,8 +10,8 @@
 #include <string>
 
 #include "Common/Common.h"
+#include "Common/Event.h"
 #include "Common/LogManager.h"
-#include "Common/Thread.h"
 
 #include "Core/BootManager.h"
 #include "Core/ConfigManager.h"
diff --git a/Source/UnitTests/Common/CMakeLists.txt b/Source/UnitTests/Common/CMakeLists.txt
index 78f9938e1c..42c0a8aaed 100644
--- a/Source/UnitTests/Common/CMakeLists.txt
+++ b/Source/UnitTests/Common/CMakeLists.txt
@@ -1,5 +1,7 @@
 add_dolphin_test(BitFieldTest BitFieldTest.cpp common)
 add_dolphin_test(CommonFuncsTest CommonFuncsTest.cpp common)
+add_dolphin_test(EventTest EventTest.cpp common)
 add_dolphin_test(FifoQueueTest FifoQueueTest.cpp common)
 add_dolphin_test(FixedSizeQueueTest FixedSizeQueueTest.cpp common)
+add_dolphin_test(FlagTest FlagTest.cpp common)
 add_dolphin_test(MathUtilTest MathUtilTest.cpp common)
diff --git a/Source/UnitTests/Common/EventTest.cpp b/Source/UnitTests/Common/EventTest.cpp
new file mode 100644
index 0000000000..41949a893d
--- /dev/null
+++ b/Source/UnitTests/Common/EventTest.cpp
@@ -0,0 +1,42 @@
+// Copyright 2014 Dolphin Emulator Project
+// Licensed under GPLv2
+// Refer to the license.txt file included.
+
+#include <gtest/gtest.h>
+#include <thread>
+
+#include "Common/Event.h"
+
+using Common::Event;
+
+TEST(Event, MultiThreaded)
+{
+	Event has_sent, can_send;
+	int shared_obj;
+	const int ITERATIONS_COUNT = 100000;
+
+	auto sender = [&]() {
+		for (int i = 0; i < ITERATIONS_COUNT; ++i)
+		{
+			can_send.Wait();
+			shared_obj = i;
+			has_sent.Set();
+		}
+	};
+
+	auto receiver = [&]() {
+		for (int i = 0; i < ITERATIONS_COUNT; ++i) {
+			has_sent.Wait();
+			EXPECT_EQ(i, shared_obj);
+			can_send.Set();
+		}
+	};
+
+	std::thread sender_thread(sender);
+	std::thread receiver_thread(receiver);
+
+	can_send.Set();
+
+	sender_thread.join();
+	receiver_thread.join();
+}
diff --git a/Source/UnitTests/Common/FlagTest.cpp b/Source/UnitTests/Common/FlagTest.cpp
new file mode 100644
index 0000000000..a3a0c3d929
--- /dev/null
+++ b/Source/UnitTests/Common/FlagTest.cpp
@@ -0,0 +1,91 @@
+// Copyright 2014 Dolphin Emulator Project
+// Licensed under GPLv2
+// Refer to the license.txt file included.
+
+#include <array>
+#include <gtest/gtest.h>
+#include <thread>
+
+#include "Common/Flag.h"
+
+using Common::Flag;
+
+TEST(Flag, Simple)
+{
+	Flag f;
+	EXPECT_FALSE(f.IsSet());
+
+	f.Set();
+	EXPECT_TRUE(f.IsSet());
+
+	f.Clear();
+	EXPECT_FALSE(f.IsSet());
+
+	f.Set(false);
+	EXPECT_FALSE(f.IsSet());
+
+	EXPECT_TRUE(f.TestAndSet());
+	EXPECT_TRUE(f.TestAndClear());
+
+	Flag f2(true);
+	EXPECT_TRUE(f2.IsSet());
+}
+
+TEST(Flag, MultiThreaded)
+{
+	Flag f;
+	int count = 0;
+	const int ITERATIONS_COUNT = 100000;
+
+	auto setter = [&f]() {
+		for (int i = 0; i < ITERATIONS_COUNT; ++i)
+		{
+			while (f.IsSet());
+			f.Set();
+		}
+	};
+
+	auto clearer = [&f, &count]() {
+		for (int i = 0; i < ITERATIONS_COUNT; ++i)
+		{
+			while (!f.IsSet());
+			count++;
+			f.Clear();
+		}
+	};
+
+	std::thread setter_thread(setter);
+	std::thread clearer_thread(clearer);
+
+	setter_thread.join();
+	clearer_thread.join();
+
+	EXPECT_EQ(ITERATIONS_COUNT, count);
+}
+
+TEST(Flag, SpinLock)
+{
+	// Uses a flag to implement basic spinlocking using TestAndSet.
+	Flag f;
+	int count = 0;
+	const int ITERATIONS_COUNT = 5000;
+	const int THREADS_COUNT = 50;
+
+	auto adder_func = [&]() {
+		for (int i = 0; i < ITERATIONS_COUNT; ++i)
+		{
+			// Acquire the spinlock.
+			while (!f.TestAndSet());
+			count++;
+			f.Clear();
+		}
+	};
+
+	std::array<std::thread, THREADS_COUNT> threads;
+	for (auto& th : threads)
+		th = std::thread(adder_func);
+	for (auto& th : threads)
+		th.join();
+
+	EXPECT_EQ(ITERATIONS_COUNT * THREADS_COUNT, count);
+}