I also faced the similar problem. I googled but couldn't find the solution. So I tried on my own and here is my solution.
Open you solution file in notepad. Make 2 changes
Hope this helps u as well..........
Just to elaborate on Bhavin's excellent answer - editing the solution file works but you may still get the incompatible error (as David reported) if you had .NET 4.5 selected as the default .NET version in your VS2012 project and your VS2010 enviroment doesn't support that.
To quickly fix that, open the VS2012 .csproj file in a text editor and change the TargetFrameworkVersion down to 4.0 (from 4.5). VS2010 will then happily load the "edited" solution and projects.
You'll also have to edit an app.config files that have references to .NET 4.5 in a similar way to allow them to run on a .NET 4.0 environment.
I had a similar problem and none of the solutions above worked, so I went with an old standby that always works:
That almost always works if you've spent 10 minutes at it and can't get it.
Note that for similar problems with older versions (2008, 2005) you can usually get away with just changing the version in the .csproj and either changing the version in the .sln or discarding it, but this doesn't seem to work for 2013.
the simplest solution is.....open your website in vs2013 and go to Debug->WebsiteProperties (last option) a new window will open..
in this window go to "Build" option and change .net framework version from 4.5 to 4.0.....then select ok. [note: this step will only work if your project does not have dependencies with vs2013...]
Now open your website in vs2010
Open the project file and not the solution. The project will be converted by the Wizard, and after converted, when you build the project, a new Solution will be generated as a VS2010 one.
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