Presented in “Living Together: Planets, Host Stars and Binaries” workshop, September, 8 – 12, 2014, Litomysl, Czech Republic as a poster

V1128 Tau is a W UMa type binary with a visual companion and complex period variations. We present new, high quality BVR light curves and a model of the system with estimates of orbital and physical parameters, age, and evolutionary status, and a detailed period study based on almost 15 years of times of minimum. Our analysis indicates ongoing mass exchange in the system and significant magnetic activity on one of the components, while further observations might confirm or rule out the presence of a gravitationally bound third body.