Preheat oven to 350°.
Beat butter and sugars at medium speed with an electric mixer until creamy. Add eggs and vanilla, beating well.
Lightly spoon flour into dry measuring cups, and level with a knife. Combine flour, baking soda, and salt in a bowl, stirring well. Add oats; stir well. Add to butter mixture; stir until well blended. Gently stir in morsels and pecans. Drop by rounded tablespoons 2 inches apart onto baking sheets lined with parchment paper. Bake at 350° for 10 minutes or until brown around edges. Cool on pan 2 to 3 minutes or until firm. Remove cookies from pan; cool on wire racks.