"hell" in that case is referring to Gehenna, the everlasting destruction from Jehovah. It's saying do not fear man, fear God.
thanks ian. I also used some scriptures from here: http://www.watchtower.org/library/w/1997/5/15/article_02.htm
I had to be careful though, because for most of them, they took the word "soul" out in the NIV bible