The referenced assembly "microsoft.crm.sdk.proxy, Version=5.0.0.0, Culture=neutral, PublicKeyToken=31bf3856ad364e35, processorArchitecture=MSIL" could not be resolved because it has a dependency on "System.Web, Version=4.0.0.0, Culture=neutral, PublicKeyToken=b03f5f7f11d50a3a" which is not in the currently targeted framework ".NETFramework,Version=v4.0,Profile=Client". Please remove references to assemblies not in the targeted framework or consider retargeting your project. Organization

To Resolve this issues you need to change your Target FrameWork in your solutions.

Right click on your Solutions --> Select Properties

Your target framework should be .NET Framework4