Preheat oven to 350°. In a large bowl, cream butter and brown sugar until light and fluffy. Beat in eggs and vanilla. In another bowl, whisk flour, cinnamon, baking powder, baking soda and salt; gradually beat into creamed mixture. Stir in oats, cherries and chocolate chips.
Drop by tablespoonfuls 2 in. apart onto ungreased baking sheets. Bake 9-11 minutes or until edges are golden brown. Cool on pans 1 minute. Remove to wire racks to cool.