The Value is smaller than condition will let you restrict an Event based on a connected Event data. You will have to specify at least two parameters in order for the condition to work.

First parameter is the connected Event data Value that should be smaller than the second parameter that is an integer.

Selecting Time on page as Value and 10 in Should be smaller than will restrict the Event to only trigger if the time spent on page is less than 10 seconds.

You also have the option to select Strictly (yes or no). Selecting No here will make the condition do the comparison as smaller than or equal while selecting Yes will only use smaller than.

Note that this condition must always be wired to an Event data before you can select it as a parameter.

Further reading:

Creating your first events