The working time depends on you. Every two weeks we perform a sprint planning (Scrum) to estimate stories and plan the next two weeks. We have no strict terms but expect seriousness.
Currently all our projects are done besides study and aren't released, so we don't have an income and because of that can't pay anyone. But we will pay everyone as soon as we get an income with our projects. The money you get depends on the part you contributed (on an hour base with bonusses).
Every two weeks we plan the work for the next two weeks (that's the normal case) in our sprint plannings (Scrum) for every project. These plannings will happen face-to-face (if you're from Erlangen) or using Skype/Google Hangout. Also talks about intermediate results, questions, problems etc. will be done that way or per mail.
An informal solicitation is enough, but should be serious and thought-out. First of all we're interested what motivates you to apply to us, what experience you have in this area and why you think you might fit in our team. We would be glad to see some work samples (e.g. a 3D model) so we can better imagine your skills. Everything else will be cleared out via a personal meeting, mail or Skype.
Everything you create during the work with us will become property of the team/organisation and we can use them in any way we like to. In the case you created the file all yourself (e.g. a mesh) you also keep all rights on your own work and can do with it whatever you like to. Furthermore all materials must be able to be released in public (together with the engine as assets for users) and also be usable for commercial products (for our own projects and for users of the engine under a corresponding license).