Vince Vaughn and Peter Billingsley to Reteam on Universal's ‘Term Life’ (Exclusive)

The duo previously worked together on the studio's box office hit "Couples Retreat"

"The Internship" star Vince Vaughn and his "Couples Retreat" director Peter Billingsley are set to reteam on "Term Life," Universal's adaptation of the graphic novel by A.J. Lieberman that was published by Image Comics.

"Term Life" follows Nick Barrow, who specializes in planning heists and tricks before selling them off to the highest bidder. When one of his heists goes bad, everyone involved wants him dead, from mob bosses to contract killers and corrupt cops.

Vaughn will star and produce through his Wild West Picture Show banner along with Victoria Vaughn and Micah Mason. Production is tentatively scheduled to start in January 2014.

Vaughn and Billingsley previously worked with Universal on "Couples Retreat," which grossed $171 million worldwide.

Vaughn, whose 20th Century Fox comedy "The Internship" opens Friday, will soon be seen in DreamWorks' comedy "Delivery Man." He's also attached to star opposite Will Ferrell in Paramount's comedy "Daddy's Home," as well as New Regency's "Business Trip."

Billingsley executive produced and appeared in Jon Favreau's "Iron Man," as well as the Vaughn vehicles "The Break Up" and "Four Christmases." 

Vaughn is repped by CAA and Jackoway Tyerman, while Billingsley is repped by attorney Mitch Smelkinson.