The presidents of Arizona State University and the University of Arizona may receive six-figure bonuses over the next several years.

The state Board of Regents on Thursday will consider approving $40,000 bonuses to ASU President Michael Crow and UA President Ann Weaver Hart.

Each could earn another $40,000 bonus next year and up to $180,000 in performance-pegged bonuses in 2015, according to the Arizona Republic.

Regents Chairman Rick Myers said the compensation system is intended to attract top talent and to make sure the regents and the presidents are on the same page regarding priorities.

Thursday's meeting will mark the first time the regents decide whether to award bonuses under provisions added to the presidents' contracts in the past year.