The TERM 'PERIOD IN OFFICE' refers to the length of time a person holds a certain job or position. It is usually used in reference to political offices, such as the President of the United States, who is elected for a four-year TERM. Other positions may have different lengths of terms, such as a mayor who may be elected for two or three years. The TERM can also refer to the length of time someone holds a job in the private sector, such as a CEO or other executive.