Just weeks after Universal pulled the plug on the project, QED International and Worldview have come aboard to finance and produce the adaptation of the Image Comics graphic novel by Andy Lieberman and Nick Thornborrow.

Universal is back in the picture, too, this time just as domestic distributor.

Vaughn and Hailee Steinfeld will star in the film, which will be directed by Peter Billingsley from a script by Lieberman.

Vaughn is also producing with Victoria Vaughn and Micah Mason of Wild West Picture Show Productions, QED’s Bill Block and Worldview’s Christopher Woodrow and Molly Conners.

Anton Lessine and Sasha Shapiro will executive produce with Worldview’s Maria Cestone and Sarah E. Johnson.

QED will be selling the film at AFM, while CAA packaged and arranged financing for the project.

Term tells the story of a low-life whom everybody -- including mob bosses, contract killers and dirty cops -- wants dead. In a rare act of selflessness (and desperation), the man takes out a million-dollar life insurance policy to benefit his estranged daughter, but soon after he realizes it doesn’t take effect for 21 days.

The graphic novel was designed in nonlinear fashion and focused on the man’s efforts to make it to the finish line while trying to be a responsible father for the first time.

EXCLUSIVE: Hot off the debut of his most recent film at SXSW, the multihyphenate has booked his next acting gig. Jon Favreau will co-star in Universal‘s crime thriller Term Life, which stars Vince Vaughn as a thief-for-hire who takes his estranged daughter (Hailee Steinfeld) on the lam when a heist goes bad. Hunted by mob bosses, contract killers and dirty cops, he takes out a life insuranceUniversal Pictures logo 2013 policy on himself to leave something for his kid. One problem: It doesn’t take effect for 21 days. Production is set to begin soon on the pic, which Vaughn, Micah Mason Victoria Vaughn and Kevin Frakes are producing with Raj Brinder Singh exec producing. Favreau most recently directed and stars in Chef, which bowed Friday at the Austin fest. His recent onscreen credits include The Wolf Of Wall Street, Iron Man 3, Identity Thief and People Like Us. He is repped by CAA and attorney Geoffrey Oblath.