For the term of office beginning on January 21, 2015, the annual salaries of the Governor and Lieutenant Governor are:

(1) Governor:

(i) for the first year, $165,000;

(ii) for the second year, $170,000;

(iii) for the third year, $175,000; and

(iv) for the fourth year, $180,000; and

(2) Lieutenant Governor:

(i) for the first year, $137,500;

(ii) for the second year, $141,500;

(iii) for the third year, $145,500; and

(iv) for the fourth year, $149,500.