Yahoo! Inc. Chief Executive Officer Scott Thompson may receive compensation of as much as $27 million, including salary, potential bonus, restricted shares and other forms of pay.

Thompson, formerly president of EBay Inc.’s PayPal, will receive a base salary of $1 million and a possible annual bonus of as much as two times that amount, Sunnyvale, Calif.-based Yahoo! said in a regulatory filing.

Other compensation includes an equity grant with a target value of $11 million, a one time “inducement grant” of $5 million, a cash bonus of $1.5 million and restricted stock units that carry a grant-date value of $6.5 million.

Thompson replaced Carol Bartz, who was fired from the top job at Yahoo! four months ago, as Yahoo! began a “strategic review” in which discussions have included the possibility of being sold, taken private or broken up.

With Thompson taking the reins, Yahoo! will begin looking to replace some of the members of its board of directors, according to the person familiar with the matter.

A Yahoo! spokeswoman declined to comment on the potential board changes.