Preheat oven to 350 degrees.

1 (11 1/2 oz.) pkg. butterscotch morsels
1 stick butter
2 c. graham cracker crumbs
1 c. chopped fine pecans
8 oz. cream cheese
1 (14 oz.) Eagle Brand condensed milk (sweet)
1 egg
1 tsp. vanilla

Melt butterscotch morsels with 1 stick of butter. Add 2 cups graham cracker crumbs, 1 cup chopped pecans. Mix well and press 1/2 of mixture in a 9 x 13 inch pan. Beat 8 ounces cream cheese until fluffy. (Have cheese at room temperature.)

Add Eagle Brand condensed milk, 1 egg and 1 teaspoon vanilla. Beat well and pour over 1 layer of crumbs. Cover with remaining crumbs. Bake for 25 to 30 minutes or until a toothpick comes out clean from center. Cool at room temperature and refrigerate before cutting.