Time Man is one of the two new Robot Masters from the remake of the original Mega Man from NES to the PSP: Mega Man Powered Up.
Time Man is a Robot Master created by Dr. Light for use in time travel experiments. However, since his time travel theory had not yet been perfected at the time, Time Man's functions are not complete, and Time Man is consumed by a crippling inferiority complex. As a consequence, he is very obsessive over unnecessary perfection and takes on an overbearing, bossy attitude. He is known to be irritable - somewhat conceited - and completely obsessed with time and his schedules. He also keeps large track of time, stating Mega Man is 0.3 seconds early when they fight. Because of his strict and domineering personality, he won't put up with any idle or useless activities. He tends not to even speak if he thinks it will waste time. And though he takes others to task for their lateness, he doesn't show any appreciation for Ice Man's timeliness.
It is mentioned by Dr. Wily in Mega Man Powered Up that Time Man is a prototype. Wily may have later perfected the design with his own robot, Flash Man. Further evidence can be found in the fact that Time Man can only slow time down while Flash Man can freeze it completely.