President of Argentina
Under the 1994 constitutional amendment, the President serves for four years, with a possibility of immediate reelection for one more term. However, unlike the President of the United States, in Argentina, a person may be reelected again after serving for two terms and staying out of office for the following term. So after serving for two consecutive periods, the president is not allowed to run for a third consecutive one, but may return for the two following elections and so on. There is no limit for a person to be a candidate if he or she does not win the elections.
President of the United States
When the first president, George Washington, announced in his "Farewell Address" that he was not running for a third term, he established a "two-terms then out" precedent. Precedent became tradition after Thomas Jefferson publicly embraced the principle a decade later during his second term, as did his two immediate successors, James Madison and James Monroe. In spite of the strong two-term tradition, Ulysses S. Grant sought a non-consecutive third term in 1880, as did Theodore Roosevelt in 1912 (though it would have been only his second full term). Both were unsuccessful.