October 2012-Present, during the Marvel NOW major relaunch, Punisher joined a team of reformed villains to kick global criminal ass known as the Thunderbolts. The Thunderbolts was created and lead by Red Hulk and was originally funded by the U.S. government. However, it later changed to an independent team of essentially mercenaries.
The Thunderbolts consisted of the Red Hulk, Elektra, Deadpool, Agent Venom, and the Punisher all working together to kill and remove the global criminal element. Ruthless and without fear the team did what other heroes refused to do, they removed criminals permanently. The missions originally were contracted and ordered by Red Hulk aka General Thunderbolt Ross and for a while, the team was acting as nothing more than a means to his own ends in larger plan.
The team storms on, following the Red Hulk on different missions, one causing the Punisher to kill Red Leader after he discovers the body being irradiated by Red Hulk.
After a while the rest of the team decides that they don’t want to take orders anymore and confront the Red Hulk claiming that they want to choose their own missions. They proceed to draw names and the Punisher is first, he choose to have the team take out a crime family in New York City.
Taking out targets and going on missions assigned by Red Hulk, the team in Marvel NOW is independent. Red Hulk uses them as a means to his own ends, but the team refuse to bend. They begin drawing names at random to choose missions: the Punisher goes first.
He chooses to have the team take out a crime family in New York City, then Deadpool chooses but Agent Venom convinces the team to let him have the mission instead. Venom would go on to let the symbiote to take over and wanted to ensure that if he lost control the team would be able to end him.
Much later on the team is tracking down Doctor Faustus, Red Hulk tries to recruit him while the Punisher isn’t having any of it. The Punisher wants to kill Faustus for his crimes, including the killing of children at a school, after Faustus joins the team, the Punisher quits. This enrages Red Hulk and when the Punisher finds a bomb in his refrigerator, he becomes enraged. Punisher sets out on a vendetta to track down and kill the rest of his team.
After a series of fights, the Punisher finds out that he was tricked by the revived Red Leader into hunting his own team and used as part of a larger plot.