PARIS - The board of Renault was poised to cancel as much as 30 million euros ($34 million) in deferred pay and severance to its ousted boss Carlos Ghosn, as directors met on Wednesday to approve its full-year accounts, sources told Reuters.

Renault will scrap around 460,000 performance shares attributed to Ghosn since 2014-15 and now worth 26 million euros, under proposals backed by the French government, its biggest shareholder, two people familiar with the matter said.

The board is also likely to drop a two-year non-compete clause worth 4-5 million euros to Ghosn, who was forced out in January following his arrest in Japan for suspected financial misconduct at Nissan, Renault's alliance partner.

A Renault spokesman did not immediately return calls and messages seeking comment. ($1 = 0.8827 euros)

(Reporting by Laurence Frost Editing by Keith Weir) ((laurence.frost@thomsonreuters.com; +33 1 4949 5683;))