Max Execution Time w/ iPage is 120

Hello – I receive the following message when I attempted to import the Demo.

“Maximum Execution Time (max_execution_time) : 120 seconds. Recommended max_execution_time should be at least 400 Seconds” The site then crashes with “Internal Server Error – The server encountered an internal error or misconfiguration and was unable to complete your request. Please contact the server administrator, and inform them of the time the error occurred, and anything you might have done that may have caused the error.”

iPage is my hosting provider and they told me that 120 seconds is the Maximum.

I will likely need to return the Highend Theme package or find another hosting provider.
Are there other options?