Guy, for example, takes time (4)
I believe the answer is:
stay
'guy' is the definition.
(I've seen this in other clues)
'for example takes time' is the wordplay.
'for example' becomes 'say' ('say' can be used to introduce an example).
'takes' is an insertion indicator.
'time' becomes 't' (abbreviation).
'say' enclosing 't' is 'STAY'.
(Other definitions for stay that I've seen before include "Temporary residence" , "Delay (execution)" , "Linger" , "Don't go!" , "Visit (for the night)" .)