FileUpload control causes 404 error

This can occur when the size of the file being uploaded is outside the proscribed limits.
From The MSDN Article:
The default size limit is 4096 KB (4 MB). You can allow larger files to be uploaded by setting the maxRequestLength attribute of the httpRuntime element. To increase the maximum allowable file size for the entire application, set the maxRequestLength attribute in the Web.config file. To increase the maximum allowable file size for a specified page, set the maxRequestLength attribute inside the location element in Web.config.