Yahoo Inc. (YHOO) said Monday that Scott Thompson, its recently deposed chief executive, is leaving without receiving severance pay, though he will keep what are known as make-whole cash and stock the company had given him to make up for compensation left behind at his former employer, eBay Inc. (EBAY).

Yahoo disclosed its partingagreement with Thompson in a regulatory filing, one day after he stepped aside following the Internet company's discovery of evidence that contradicted his claims he wasn't responsible for a glaring inaccuracy in his academic record.

Thompson will leave behind all outstanding but not-fully-vested stock awards, 'with no severance compensation,' Yahoo said. However, he retains the right to a make-whole grant of restricted stock with a value of $6.5 million, which was previously disclosed.

Thompson, who took the top job at Yahoo in January, had been entitled to a total of $22.5 million in potential stock awards, a $1.5 million cash bonus and a $1 million annual salary.

Earlier this month, Hedge fund Third Point LLC, which had been waging a proxy battle for increased control of Yahoo, flagged an inaccurate detail in Thompson's academic record. A Yahoo filing incorrectly stated Thompson had earned a bachelor's degree in accounting and computer science; in fact, he had earned only an accounting degree.

After an internal review, Yahoo said on Sunday that Thompson would be replaced by interim CEO Ross Levinsohn, an executive who has been with the company since 2010. Meanwhile, Third Point ended its proxy battle after its leader Dan Loeb and others won Yahoo board seats.

Thompson had been a highly touted president of eBay's PayPal payments unit before joining Yahoo and making headway on an ambitious turnaround effort. Under his leadership, PayPal regularly outpaced eBay's core online auction business in terms of growth.

At Yahoo, Thompson was overseeing efforts to tap new sources of revenue, such as taking more financial interest in online purchases made on the company's websites and pursuing litigation over its large patent portfolio.

In Thompson's employmentagreement filed at the time of his hiring in January, Yahoo said if it terminated him without 'cause,' he would be entitled to severance benefits. If they aren't fired for cause, Yahoo executives are generally entitled to cash severance equal to a year's salary and bonus, and stock options awarded prior to their departure, according to regulatory filings.

A Yahoo spokeswoman declined to comment.

Thompson's predecessor, Carol Bartz, received $3 million in cash severance as a result of her firing last year. Bartz, who had been hired in Jan. 2009, was widely seen as having come up short in her own bid to reverse Yahoo's decline, as it struggles to remain relevant among younger competitors such as Google Inc. (GOOG) and Facebook Inc.

Shares of Yahoo rose 2% during the regular session Monday, and were down slightly after hours at $15.45.

In addition to Thompson's separation agreement, the Sunnyvale, Calif., company also disclosed that it's ended its proxy fight with Third Point--which had been on track to get increasingly ugly leading up to Yahoo's annual shareholder meeting this summer.

As part of that agreement, Yahoo says its board will appoint Loeb and his nominees Harry Wilson and Michael Wolf as directors. Those additions come as Chairman Roy Bostock and board members Patti Hart, Vyomesh Joshi, Arthur Kern and Gary Wilson all resign.