MicrostockGroup

Totally depends where you live.
The figures often bandied around on here would not be viable where I live; and there are many places with much lower prices than here.

And is he buying exclusive rights or does he want a license similar to the RF model?

Here's a ballpark firgure site. You at least can see what the industry says. I plugged in advertising, 1/4 page, 10-50,000 copies (guess) - but if it's a pocket size pamphlet and they are print less copies, the price goes down. Anyway, have fun!

http://photographersindex.com/stockprice.html

It's at least some idea what a direct sale of an image might be.

I had a newspaper come up to me and wanted a photo at an event. I said how much... The guy called the editor and he came back, $100. I said I'll make you a CD and you can pick which one you want. Later at another event the same writer came up to me and said, "I won't be buying from you. You're too expensive." Hey wait, they set the price!  Same photo sold to an agency for $300 up front. No commissions but I retained all rights. Sounded fair enough to me.

This is an example of the low and high ends. Newspaper normally would be $20-$50 - Agency I got a very fair deal. I don't care how many times he sells it, I'm paid.

So advertising pamphlet, how many are they printing? Distribution? Large multinational or local agency? I think you can figure out a fair price that makes both of you happy?