401(k) and SIMPLE IRA - one participant, two employers

[M Norton]

One individual is a 50% owner of a new LLC that wants to sponsor a 401(k) plan.

The same individual is a 5% owner of another otherwise-unrelated entity that sponsors a SIMPLE IRA in which he participates (deferrals plus ER match).

Is his contribution (employee and employer) in the 401(k) limited by his participation in the SIMPLE IRA?

Thanks!