In this paper, we described the investigated theoretical time synchronization performances and experiment results obtained by commercially provided PTP (Precise Time Protocol) modules when the time of a slave clock is synchronized to the master clock. In the case of the theoretical performance analysis, we investigated 3 types of clock levels such as Crystal Oscillator (XO), TCXO (Temperature Compensated XO) and OCXO (Oven Controlled XO). From the analysis, it was observed that the synchronization performance is greatly influenced by the synchronization period and the required performance under 1 us can be achieved by using XO level clocks when the synchronization period is less than 2 seconds and the uncertainty of the propagation delay is under 100 ns. For the experiments using commercial PTP modules, the synchronization performance was investigated for direct, through 1 hub and through 2 hubs connections between the master clock and the slave clock. From the experiment results, we observed that time synchronization under 90 ns with 1,000 seconds observation interval can be achieved in the case of direct connection.