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Justin Timberlake Backstage with Jimmy Fallon

08/25/2013 at 11:00 PM EDT


Jimmy Fallon had on his suit and tie, and accessorized with plenty of superlatives to describe his pal Justin Timberlake when he presented him with the Michael Jackson Video Vanguard Award at the VMAs on Sunday.

The pair posed for this exclusive pic for PEOPLE backstage before JT went out and shut the place down with a medley of his hits including reuniting with his former 'NSYNC bandmates for two numbers – "Girlfriend" and "Bye, Bye, Bye."

Fallon was just as excited as everyone else after the performance as he handed Timberlake the Moon Man and gushed, "Right now, I could give you a big speech about why Justin is getting this award, but it's pretty obvious why he deserves it ... in the two decades he's been performing he's become a legend!"

Later in the night, Timberlake accepted the show's top prize, video of the year, for "Mirrors."


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