Present, for example, that may be wound up (5)
I believe the answer is:
tense
I believe this clue is a double definition.
'present for example' is the first definition.
(present tense)
'wound up' is the second definition.
(similar in meaning)
'that may be' is the link.
(Other definitions for tense that I've seen before include "Nerve-racking" , "Charged" , "It may be perfect" , "Verb form, indicates time" , "Rigid; verb form" .)