Bauer Martinez are re-teaming Kal Penn and director Mort Nathan for the comedy, Under New Management.

After they finish, "National Lampoon's Van Wilder 2: The Rise of Taj", they'll start production on the flick. Variety reports Penn will also serve as executive producer and star as one of two guys who send their boss on a sex cruise and turn the office into the hottest party in town; profits soar and the hapless duo triumph over stodgy corporate America.

Todd Cohen, Nate Ford and Ryan Jordan wrote the script for Under New Management.