A target computing system performs program code conversion from subject code, executable by a subject computing architecture, into target code executable by the target computing system, and then executes the target code. The target system handles exceptions during binding to native code. Native code binding executes a portion of native code in place of translating a portion of the subject code into the target code. Upon an exception during execution of the portion of native code, the target system saves a target state representing a current point of execution for the portion of native code, and creates a subject state representing an emulated point of execution in the subject architecture. A subject exception handler handles the exception with reference to the subject state. Upon resuming execution from the exception using the subject state, the saved target state is restored to resume execution in the section of portion of native code.