In that case he is low balling you at a laughable level. I am assuming he wants "follow" links? If so tell him to get in touch when he can make a serious offer.
$20 per link-yearly sounds very low (Risk vs. reward for you). Pricing really depends on the quality of your site. How is it ranking organically for the terms he is targeting? Does your site currently have a large number of outbound links?
There was some talk of this in SEO circles back in July. Gary Illyes sent out a tweet in late July stating that any of the 30x redirects no longer lose page rank. Mueller from Google when asked claimed that Illyes was not reporting new news and its been that way for some time now.
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