“Silicon Valley’s” T.J. Miller and “Saturday Night Live’s” Kate McKinnon also star in the comedy.
Will Speck and Josh Gordon are directing the film, which follows a group of co-workers during an office party gone awry.
Scott Stuber, and Entertainment 360’s Guymon Casady and Daniel Rappaport are producing, while Speck and Gordon are exec producing. Casady made the original project pitch.
The movie shoots this spring in Atlanta and hits theaters on Dec. 9, just in time for the holidays.
Paramount will distribute the film in the U.S. and select international territories, while Mister Smith Entertainment is overseeing distribution in Europe, Africa and the Middle East.
DreamWorks partner Reliance will distribute the film in India as Entertainment One handles the U.K., Belgium, the Netherlands, Luxembourg, Australia and New Zealand.
Munn most recently appeared in “Ride Along 2,” “Zoolander 2” and “Mortdecai.” She will play new baddie Betsy Braddock (aka Psylocke) in 2017’s “X-Men: Apocalypse.” Munn’s HBO TV show “The Newsroom” wrapped in 2014.
She is repped by Atlas Artists and CAA.