Warners said the deal with the five-member Broken Lizard team -- Jay Chandrasekhar, Kevin Heffernan, Steve Lemme, Paul Soter and Erik Stolhanske -- marks an aggressive step in trying to improve the studio's track record with feature comedies.
Under the terms of the pact, Broken Lizard will write, direct, produce and/or act in pics for Warners. Studio also will look to Broken Lizard to identify and develop outside comedic talent.
One project already in discussion is Broken Lizard's Greek Road, a Monty Python-like spoof set in ancient Athens about a young Plato and his mentor that Chandrasekhar is set to helm.
First-look deal with Broken Lizard follows this summer's solid box office performer The Dukes of Hazzard, which Chandrasekhar directed for Warners and Village Roadshow.
Heffernan co-starred in "Dukes," while Chandrasekhar, Lemme, Soter and Stolhanske made cameo appearances.
Warner Bros. Pictures production prexy Jeff Robinov, who has made it a stated priority to develop more comedies, said Broken Lizard is "key to bringing us fresh, unconventional ideas that appeal to a more broad audience."