One whose occupation is subject to contract for a time (11)

I believe the answer is:
leaseholder
'one whose occupation is subject' is the definition.
I can't tell whether this defines the answer.
'contract for a time' is the wordplay.
'contract' becomes 'lease' (lease is a kind of contract).
'for a time' becomes 'holder' (I can't justify this - if you can you should believe this answer much more).
'lease'+'holder'='LEASEHOLDER'
'to' acts as a link.
Can you help me to learn more?
(Other definitions for leaseholder that I've seen before include "Tenant" , "Person with property rights" , "One renting property" .)
