The President of the Russian Federation is limited by the Constitution to two successive terms, but there's no limit for total terms. The system is currently being exploited by incumbent Vladimir Putin, who has been in office since 1999, alternating between Premiership and Presidentship:
- 1999 - 2000: First Premiership (also acting President since 31 December 1999, after Yeltsin's resignation),
- 2000 - 2004: First Presidential term (Prime Minister: Mikhail Kasyanov),
- 2004 - 2008: Second Presidential term (Prime Ministers: Viktor Khristenko, Mikhail Fradkov, Viktor Zubkov)
- 2008 - 2012: Second Premiership (President: Dmitry Medvedev),
- 2012 - present: Third Presidential terms (Prime Minister: Dmitry Medvedev)
While this isn't exactly the answer you were looking for, I think it exposes a notable flaw in the system: The same person can retain power indefinitely, with the help of a few puppets that keep his/her chair warm during the interims. This is more evident after 2008, with Putin and Medvedev switching places, however Zubkov was also considered for the Presidency in 2008, when Putin had to step down after two consecutive terms. Putin went with Medvedev in the end, but Zubkov wasn't completely left out: He succeeded Medvedev as chairman of Gazprom.