I've been using Martin's solution for years, however, slightly modified.
BEGIN
Declare @min-2 int, @max-2 int
Select @min-2 = Min(ID),
@max-2=Max(ID) -- OR a user-defined max
from emp
BEGIN
UPDATE emp SET salary = (salary * 115) /100 WHERE emp.id = @min-2
Select @min-2 = Min(ID) from emp where ID >@min
END