1. Given his experience and salary history, he can target some management positions in accouting (such as accounting manager). I know many companies will pay $75K or more for a qualifies manager.
2. Work as a contractor - many companies hire contract accountant for projects (6-12 months). Go www.accountemps.com to find out more.

I agree that somethimes over-qualified experience could be a trouble for mid-career people.