On the ChessCafe.com website, Geurt Gijssen discusses the notion of games having different time controls for the players:
chesscafe.com/geurt/geurt.htm (Look for the question by Stewart Reuben of the UK)
This question is addressed to those at USCF…is there anything preventing the idea of running a tourney(and even advertising it in Chess Life), such as game 5/6, where White has 5 minutes and Black has 6 minutes, if all pre-tourney advertising mentions this fact?
Did go to a tournament with different time controls: it was a little different as black got 20 minutes more time then white, and the rating class was changed as a section of under 1900 under 1700 under 1500, ect. So that the top half could play the botton half of the next class range. The event worked well we had over 100 players.
Earnest,
Douglas M. Forsythe, local td
USCF basically allows the TDs to use any variations they like, so long as they are announced in all pre-publicity ads. See rule 1B2 of the 5th editon.
If I understand your question, you are wanting to run a time-odds tourney. I see nothing in the rules which would prohibit this, if you announce the idea in advance ads, i.e. TLAs. I would think, however, that the difference in the amount of time between the two players would have to consistent with the rating system used. For example, I don’t think you could have one player w/ a tc of G/:29 and the other w/ G:60 
-Terry
Correct, evansvillecc…I understand completely about not mixing the standard and quick rating time controls. I was considering something like a G/5-6 event.
GBate
Don’t think there should be any problems there. Just hold your tourney, and report it as a Blitz tournament. Well, on second thought, is G/:06 outside the limits of Blitz rating? I haven’t looked this up yet, but I’m sure it’s somewhere on USCF’s website. How 'bout running a G/:04-:05 event? Before you decide this, check out USCF’s site at uschess.org/ and see what they give as the time spread for Blitz.
Now I remember 
USCF rates Blitz events under the Quick Rating system 
See info at uschess.org/ratings/info/intro.pdf
You shouldn’t have any problems with this format.
With blitz nothing less then G/5 can be rated.
Earnest,
Douglas M. Forsythe, local td
Thanks for the correction there, Douglas. G/:04 would not be ratable!
Good eye 
-Terry
This idea came up while I was serving as Technical Director. There is a major problem with rating it. The time odds will distort the ratings system. Even if the participants don’t care about having their ratings incorrectly change, their opponents in subsequent events are affected. Note I am avoiding mention of those who would cross class boundaries (think prize eligibility) as a result of the ratings change.
The ratings committee did not want to rate events with either time or material odds. Please check with the office and ask them to verify RC approval prior to running it as a USCF rated event.
Regards, Ernie