System and method for performing time-bounded execution of a program. A timed program execution process is initiated, and a timeout process is initiated. A timeout condition is configured in the timeout process at a first priority level, and a rollback state determined for the program. Execution of the program is initiated in the timed program execution process at a second priority level below the first priority level. During execution of the program, the timeout process determines if the timeout condition has occurred, and if so, the timeout process restores the execution of the program to the rollback state, and the timed program execution process resumes execution of the program from the rollback state with the timeout condition. The program exits in the timed program execution process in response to the timeout condition, and the timeout event disabled. The timeout process is terminated, and the timed program execution process is terminated.