That's only $52K/year. It's not piddling small change, but he'll not be a 1%er with just that. It would be pretty sweet to have that as a guaranteed floor though.
No, $52K a year is not chicken feed (except in NYC), but there are far too many people who strike it rich and five years later the money is gone (squandered) and they are lining up for welfare or bankruptcy. Instant wealth like this both a blessing and a curse. There are plenty of newly rich folks who have discovered this to their despair.