<PAGE>
EXHIBIT 99.1
FORM OF PROXY CARD
[TELXON LOGO]
TELXON CORPORATION
SPECIAL MEETING
, 2000
A.M.
[INSERT ADDRESS]
PROXY SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS
FOR THE SPECIAL MEETING OF STOCKHOLDERS TO BE HELD , 2000
The undersigned stockholder hereby appoints John W. Paxton, Sr. and Woody M.
McGee, or any of them, as Proxies, each with the power to appoint his
substitute, and hereby authorizes any of them to represent and to vote, as
provided on the reverse side hereof, all of the Common Stock of Telxon
Corporation which the undersigned, as of , 2000, the Record Date for the
Special Meeting, is entitled to vote at the Special Meeting of Stockholders to
be held on , 2000 or any adjournment or postponement thereof.
IMPORTANT--THIS PROXY IS CONTINUED ON THE REVERSE SIDE.
PLEASE SIGN AND DATE ON THE REVERSE SIDE AND RETURN TODAY.
[arrow up] FOLD AND DETACH HERE [arrow up]
THIS PROXY, WHEN PROPERLY EXECUTED AND TIMELY RETURNED,
WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE STOCKHOLDER.
IF NO DIRECTION IS MADE, THIS PROXY WILL BE VOTED
"FOR" ITEMS 1 AND 2.
<PAGE>
TELXON CORPORATION
PLEASE MARK VOTE IN OVAL IN THE FOLLOWING MANNER USING DARK INK ONLY.
THE BOARD OF DIRECTORS RECOMMENDS A VOTE "FOR" EACH ITEM BELOW.
<TABLE>
<S> <C> <C> <C>
FOR WITHHELD AGAINST
1. Approval and adoption of the merger and the merger [ ] [ ] [ ]
agreement among Symbol Technologies, Inc., TX
Acquisition Corporation and Telxon Corporation.
FOR WITHHELD AGAINST
2. To adjourn the meeting, if necessary, to solicit additional [ ] [ ] [ ]
proxies.
</TABLE>
In their discretion, the Proxies are
authorized to vote upon such other
business as may properly come before
the meeting.
Date: , 2000
Signature(s)
Signature(s)
PLEASE SIGN EXACTLY AS NAME APPEARS
HEREON. JOINT OWNERS SHOULD EACH SIGN.
WHEN SIGNING AS AN EXECUTOR, CORPORATE
OFFICER OR IN ANY OTHER REPRESENTATIVE
CAPACITY, PLEASE GIVE FULL TITLE AS
SUCH.
[arrow up] FOLD AND DETACH HERE [arrow up]
YOUR VOTE IS IMPORTANT!
THE BOARD OF DIRECTORS RECOMMENDS A VOTE "FOR"
ITEMS 1 AND 2.
PLEASE SIGN, DATE AND RETURN THE ABOVE PROXY CARD TODAY
USING THE POSTAGE-PAID ENVELOPE PROVIDED, WHETHER OR NOT
YOU EXPECT TO ATTEND THE SPECIAL MEETING.
<PAGE>
DIRECTION FORM
SPECIAL MEETING OF STOCKHOLDERS-[ ], 2000
INSTRUCTIONS FOR VOTING SHARES HELD BY THE CHARLES SCHWAB TRUST COMPANY
("SCHWAB") AS TRUSTEE UNDER THE TELXON RETIREMENT & UNIFORM MATCHING PROFIT
SHARING PLAN (THE "401(K) PLAN")
Pursuant to the 401(k) Plan, I hereby direct Schwab, as 401(k) Plan Trustee, to
vote as provided on the enclosed proxy card, in person or by proxy, at the
Special Meeting of Stockholders to be held on [ ], 2000, or any adjournment
or postponement thereof, all the shares of Common Stock of Telxon Corporation
credited to my Telxon Stock Fund account under the 401(k) Plan ("Plan Shares")
as of the [ ], 2000 Record Date for the Special Meeting.
UPON THE PROPER COMPLETION AND TIMELY RETURN OF THIS DIRECTION FORM, YOUR
SHARES WILL BE VOTED IN THE MANNER DIRECTED HEREIN. IF THIS FORM IS NOT
RETURNED OR IS RETURNED BUT WITHOUT DIRECTION BEING GIVEN, YOUR PLAN SHARES
WILL BE VOTED IN THE SAME PROPORTION AS THOSE SHARES FOR WHICH PROPER VOTING
INSTRUCTIONS ARE TIMELY RECEIVED. DIRECTION FORMS MUST BE RECEIVED BY THE
TABULATING AGENT, [ ], NO LATER THAN 5:00 P.M. EASTERN DAYLIGHT SAVINGS TIME
ON [ ], 2000 FOR TABULATION.
IMPORTANT--THIS DIRECTION FORM IS CONTINUED ON THE REVERSE SIDE.
PLEASE SIGN AND DATE ON THE REVERSE SIDE AND RETURN TODAY.
[arrow up] FOLD AND DETACH HERE [arrow up]
Schwab and the Tabulating Agent will keep your holdings
of Plan Shares and your voting instructions on this Direction Form strictly
confidential. The accompanying proxy materials have been distributed to you
based on information provided by Schwab to the Tabulating Agent (and not to
Telxon). If you also own Telxon common stock other than through the 401(k)
Plan, you must also complete and separately return a Proxy Card for the voting
of those other shares.
<PAGE>
TELXON CORPORATION 401(K) PLAN
PLEASE MARK VOTE IN OVAL IN THE FOLLOWING MANNER USING DARK INK ONLY.
THE BOARD OF DIRECTORS RECOMMENDS A VOTE "FOR" EACH ITEM BELOW.
<TABLE>
<S> <C> <C> <C>
FOR WITHHELD AGAINST
1. Approval and adoption of the merger and the merger [ ] [ ] [ ]
agreement among Symbol Technologies, Inc., TX
Acquisition Corporation and Telxon Corporation.
FOR WITHHELD AGAINST
2. To adjourn the meeting, if necessary, to solicit additional [ ] [ ] [ ]
proxies.
</TABLE>
In their discretion, the Proxies are
authorized to vote upon such other
business as may properly come before
the meeting.
Date: --------------- , 2000
Signature(s)
Signature(s)
PLEASE SIGN EXACTLY AS NAME APPEARS
HEREON. JOINT OWNERS SHOULD EACH SIGN.
WHEN SIGNING AS AN EXECUTOR, CORPORATE
OFFICER OR IN ANY OTHER REPRESENTATIVE
CAPACITY, PLEASE GIVE FULL TITLE AS
SUCH.
[arrow up] FOLD AND DETACH HERE [arrow up]
YOUR VOTE IS IMPORTANT!
THE BOARD OF DIRECTORS RECOMMENDS A VOTE "FOR" ITEMS 1 AND 2.
PLEASE SIGN, DATE AND RETURN THE ABOVE DIRECTION FORM TODAY USING THE
POSTAGE-PAID ENVELOPE PROVIDED.