Preheat oven to 350°F (175°C) and line baking sheets with parchment paper.

In a large bowl, cream together softened butter, granulated sugar, and brown sugar until light and fluffy.

Beat in eggs one at a time, then stir in the vanilla extract.

In a separate bowl, whisk together flour, baking soda, baking powder, and salt.

Gradually add the dry ingredients to the creamed mixture until just combined.

Gently fold in the crispy rice cereal and chocolate chips by hand.

Drop rounded tablespoons of dough onto the prepared baking sheets, spaced 2 inches apart.

Bake for 10 to 12 minutes or until the edges are golden brown.

Cool on the baking sheet for 5 minutes before transferring to a wire rack.