Actually, this fellow is paid $70K/year (he's at a public university where salaries are public). He got into the system before the big shift to lecturers and adjuncts, and since he has been in the system for a long time there is a long history of salary increases, back when times were good, and never a decrease - the phenomenon of sticky wages in action.
Whether his compensation is fair is a different question. His homepage lists what courses he is teaching but not the number of actual sections. A lecturer can teach three sections of a full-time four-credit course. With preparation, grading and contact hours this constitutes a 40-hour workweek.