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Preheat oven to 250 and coat roaster pan with butter or cooking spray - I use a non-stick roaster, which is just perfect for this recipe.
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Pop popcorn right into roaster pan.
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Over medium heat (don't go any higher or it might burn - I set my burner at 4.5 on a 9 scale), combine butter, brown sugar, splenda, karo syrup and salt.
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Bring to a boil - Boil for 5 minutes without stirring.
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Remove from heat and stir in vanilla and baking soda.
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Working quickly, dump caramel mixture onto popcorn and stir until well distributed.
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Bake for 30 minutes stirring once after 15 minutes to even out the caramel making sure that all pieces are coated nicely.
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If you like, cool popcorn on parchment paper, especially if you aren't using a non-stick pan - I just leave mine in the non-stick roaster, stirring every once in awhile until completely cool.
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Store in covered tupperware dish - if you have any leftover!